Asked by yulissa bonilla on May 11, 2024
Verified
Crazy Quilts takes inventory semiannually. Beginning inventory for the year was $32,000. Inventory at the end of the first six months was $27,000. Ending inventory for the year was $39,000. Compute the average inventory for Crazy Quilts.
Semiannually
Happening biannually or once every six months.
Average Inventory
Calculated by adding the value of the inventory at the beginning and end of a period and dividing by two, reflecting an average amount of inventory held over the period.
Ending Inventory
The total value of all the goods remaining unsold at the end of an accounting period.
- Master the process of finding the average stock levels during particular intervals.
Verified Answer
ED
Learning Objectives
- Master the process of finding the average stock levels during particular intervals.