Web Application Chapter 7 page 281

Robin has a part-time job at REI, one of the biggest outdoor-supply stores on the Internet, found at www.rei.com. Her job is to keep track of inventory of five of the Where-to guides for camping and hiking. She is responsible for the following guidebooks.

1) 12 Short Hikes: Denver Foothills South
2) 40 Great Rail Trails in Michigan, Illinois & Indiana
3) 40 Great Rail-Trails in New York and New England
4) 50 Hikes in Oregon's coast Range and Siskiyous
5) 50 Old-Growth Day Hikes in The Mount Hood National Forest

On May 1, Robin calculated the total retail inventory of these books at $42,591.20.
Today, Robin has the following quantities of her guides available.

1) 450
2) 300
3) 350
4) 500
5) 679

The average inventory is calculated at retail price. What is the average inventory at retail? To answer the question, do the following:

1. Go to Web site www.rei.com and click on Books/Maps. Under Where-to Guides, click on camping/hiking.

2. Look up the current selling price of the five guidebooks for which Robin is responsible.

3. The ending inventory has to be determined before the average inventory can be calculated. The number of each guide available today is given. Once the current price is determined for each guide, multiply the number available, which is given, by the current price to get a total dollar amount for each guide. Then add the total dollar amounts of each guide together to find the ending inventory at retail. So, as of today, what was the ending inventory?

4. Now that you have determined the beginning and ending inventory, follow the example on page 281 of your textbook to determine the average inventory.

Show all your work and include the date of the information used in your answer.

© Copyright 2000 Addison Wesley Longman, Inc.