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.