Problem $7-3($Algo$)$

The following table contains data about the inventory for five items and its unit cost at Jones Corporation.

Suppose Jones Corporation determined that its annual inventory carrying cost equals $15\%.$ Compute the dollar values for the

information in the above table and determine the annual inventory carrying cost for each item and the total annual inventory carrying

cost$.$The following table contains data about the inventory for five items and its unit cost at Jones Corporation.

Item # Average Unit Inventory Unit Cost

$1315,000$ $$19\mathrm{.}00$

$268,000$ $$55\mathrm{.}00$

$3109,000$ $$7\mathrm{.}00$

$4365,000$ $$14\mathrm{.}00$

$573,000$ $$1\mathrm{.}00$

Suppose Jones Corporation determined that its annual inventory carrying cost equals $15\%.$ Compute the dollar values for the information in the above table and determine the annual inventory carrying cost for each item and the total annual inventory carrying cost.