Refer to Keating Auto Mart. If the year-end inventory for Keating had been the same as the beginning of the year inventory, what would have been the average inventory for the year?​

Average Inventory

The mean value of the inventory of goods held over a certain period of time, usually calculated by averaging the beginning and ending inventory of a given period.

Quarterly Inventories

An accounting practice where a company counts and records its inventory four times a year, typically at the end of each fiscal quarter.

Beginning Inventory

The recorded value of inventory held by a business at the start of an accounting period.