Keating Auto Mart ​

question 49

Short Answer

Keating Auto Mart
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Keating Auto Mart had a beginning inventory of $2,000,000 at retail. Keating had quarterly inventories of $7,000,000 at the end of Q1, $7,000,000 at the end of Q2, $5,000,000 at the end of Q3, and $6,000,000 at year-end.
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-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?​

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