Question

find the average inventory.

date\tinventory amount at retail
january 1\t$65,422
april 1\t$58,772
july 1\t$53,515
october 1\t$78,704
december 31\t$46,992

the average inventory is $\square.
(round to the nearest cent as needed.)

Explanation:

Step1: Sum all inventory amounts

We add up the inventory amounts: \( 65422 + 58772 + 53515 + 78704 + 46992 \)
First, \( 65422 + 58772 = 124194 \)
Then, \( 124194 + 53515 = 177709 \)
Next, \( 177709 + 78704 = 256413 \)
Finally, \( 256413 + 46992 = 303405 \)

Step2: Divide by the number of data points

There are 5 data points, so we divide the sum by 5: \( \frac{303405}{5} = 60681 \)

Answer:

\( 60681.00 \)