Answered

Select the best answer for the question.

Huck's Fishing Shop's beginning inventory was [tex]$70,000, and the ending inventory was $[/tex]36,500. What was Huck's average inventory?

A. [tex]$48,000
B. $[/tex]35,000
C. [tex]$53,250
D. $[/tex]18,250



Answer :

GinnyAnswer
To determine Huck's average inventory, we need to follow these steps:

1. Identify Beginning and Ending Inventory:
- The beginning inventory is [tex]$70,000. - The ending inventory is $[/tex]36,500.

2. Calculate the Sum of the Inventories:
- Add the beginning inventory and the ending inventory together:
[tex]\[ 70,000 + 36,500 = 106,500 \][/tex]

3. Calculate the Average Inventory:
- To find the average, divide the sum of the inventories by 2:
[tex]\[ \frac{106,500}{2} = 53,250 \][/tex]

So, Huck's average inventory is [tex]$53,250. Therefore, the correct answer is: C. $[/tex]53,250