Pretty Paintings Gallery takes inventory semiannually. Beginning inventory for the year was $755,000. Inventory at the end of the first six months was $780,000. Ending inventory for the year was $695,000. Compute the average inventory for Pretty Paintings Gallery.​

Average Inventory

The mean amount of inventory held by a business over a specific period of time, calculated to assess inventory management efficiency.

Ending Inventory

The total value of all merchandise that a company has not sold at the end of an accounting period.

Beginning Inventory

The amount of merchandise prepared for sale at the start of a fiscal period.