STEP BY STEP USING EXCEL PLEASE AND SHOW FORMULAS AND HOW AND WHERE YOU GOT THE NUMBERS FROM FOR DUMMIES THANK YOU

11. Davis Steel Distributors is planning to set up an ad tribution network. Analysis of item-sales data for its other warehouses shows that 25 percent of the items represent 75 percent of the sales volume. The com- pany also has an inventory policy that varies with the items in the warehouse. That is, the first 20 percent of the items are the A items and are to be stocked with an inventory turnover ratio of 8. The next 30 percent of the items, or B items, are to have a turnover ratio of 6. The remaining C items are to have a turnover ratio of 4. There are to be 20 products held at the warehouse with sales on the ware- house forecasted to be $2.6 million annually. What dollar value of average inven- tory would you estimate for the warehouse