Clay's Fishing Shop's beginning inventory is $70,000 and ending inventory is $36,500. What was Clay's average inventory?
A)$53,250
B)$48,000
C)$35,000
D)$18,250
E)None of these

Name: Clay's Fishing Shop's beginning inventory is $70,000 and ending inventory is $36,500. What was Clay's average inventory? A)$53,250 B)$48,000 C)$35,000 D)$18,250 E)None of these
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Question

Quizplus · Accepted Answer

Average inventory = (beginning inventory + ending inventory) / 2
Average inventory = ($70,000 + $36,500) / 2
Average inventory = $53,250

Clay's Fishing Shop's Beginning Inventory Is $70,000 and Ending Inventory