Solve the problem.
-Bed 'n' Board Linen took inventory on the first of each month for the full year. The sum of the inventories was $630,639. On December 31, inventory was taken again and amounted to $46,979. Find the average inventory for the year
A)A)$52,124.46
B)$44,896.92
C)$48,638.33
D)$56,468.17

Question

Quizplus · Accepted Answer

The average inventory is calculated by dividing the sum of the inventories by the number of months. $630,639 divided by 12 months equals $52,553.25. However, since the inventory on December 31 is not included in the monthly sum, we need to add it and divide by 13 months: ($630,639 + $46,979) / 13 = $52,124.46.

Solve the Problem. -Bed 'N' Board Linen Took Inventory on the First of the First