If a company has beginning inventory of $30,000 and ending inventory of $55,000, compute its average inventory.

Question:

If a company has beginning inventory of $30,000 and of $55,000, compute its average inventory. If the COGS are $140,000, compute its inventory turnover and determine how many days the average item is in stock.
Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...