Question

Calculate the average retail stock using the 3 month information provided below: January BOM=$309,500 February BOM=$299,880...

Calculate the average retail stock using the 3 month information provided below:

January BOM=$309,500

February BOM=$299,880

March BOM=$312,980

March EOM=$97,400

Business   Accounting   
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Answer #1
Calculate the average retail stock for January , February and March
Average Inventory (Month) = (Beginning of Month Inventory + End of Month Inventory) ÷ 2
SI NO Month Opening Inventory
(In $)		 Closing inventory
(in $)		 Average inventory
(In$)
1 January 309500 299880 304690
2 February 299880 312980 306430
3 March 312980 97400 205190
Note
The average inventory formula calculates the average amount of inventory in stock within a certain time period. To calculate average inventory, take the current inventory balance and add it to the prior inventory balance. You can divide the two to get the average inventory amount
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