The following information is available for Harvey Corporation for the month of June: Given this information, the average (periodic) ending inventory balance is approximately

Question

The following information is available for Harvey Corporation for the month of June:  Given this information, the average (periodic) ending inventory balance is approximately

Quizplus · Accepted Answer

To calculate the periodic average ending inventory balance, we need to add the beginning inventory, purchases, and ending inventory for the month of June and divide it by 2. Therefore, [(6,800 + 11,950) + (5,600 + 8,200) + (4,500 + 5,750)] / 2 = $8,400 / 2 = $4,205. Therefore, the best choice is B.

The Following Information Is Available for Harvey Corporation for the Month