Question: please help on process and answer ( all the info is in both picture) 1. Lockwood Industries is considering the use of ABC analysis to

please help on process and answer ( all the info is in both picture)

1. Lockwood Industries is considering the use of ABC analysis to focus on the most critical items in its inventory. For a random sample of eight items, the following table shows the annual dollar usage. Rank the items, and assign them to the A, B or C class. (The number that goes on line 1 under Annual Usage is 121139) Item Annual Usage Rank 1 2 3 4 5 6 7 8 95000 14000 10000 2000 100000 24000 180000 Annual Dollar Cost ($) Usage 0.49 0.79 0.03 0.79 0.52 0.42 0.96 0.38 Item Annual Dollar Usage Cumulative Cumulative Dollar Usage Percentage (%) Class Class Dollars per Group Percentage of Percentage of Items Dollar Usage

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