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Question: The maintenance department for a small manufacturing firm has responsibility for maintaining an inventory of spare parts for the machinery it services. The parts inventory, unit cost, and annual usage are as follows: Table 1: Unit-Cost Inventory Summary Part Unit CostAnnual Usage 1 $10 4,000 2 $35 3,500 3 $20 550 4 $18 800 5 $350 800 6 $250 750 7 $60 250 8 $80 550 9 $140 6,200 10 $5 3,000 The department wants to classify the inventory parts according to the ABC system to determine which stocks parts should be monitored most closely. (Hint: please define category A with a total value % between 70 and 80, and category C with 5% or less)