The following table contains data about the inventory for five items at Jones Corporation. Item # 1 2 3 4 5 Total Beginning Unit Inventory 370,000 62,000 107,000 420,000 72,000 1,031,000 Ending Unit Inventory 340,000 82,000 119,000 390,000 82,000 1,013,000 Annual Unit Sales 584,000 138,000 172,000 294,000 275,000 1,463,000 Unit Cost $ 15 $ 52 $ 4 $ 8 $ 1 Complete an ABC analysis of the five items that Jones Corporation carries in inventory. Rank-order each item (row) based on "% of Annual Sales Revenue" in descending order. (Round your annual sales to the nearest dollar amount and other answers to 1 decimal place.) Item # Annual Sales Revenue % of AnnualSales Revenue % Cumulative% of Sales Class % % % % % % % % % Total Michigan State Figurine Inc. (MSF) sells crystal figurines to Spartan fans. MSF buys the figurines from a manufacturer for $31 per unit. They send orders electronically to the manufacturer, costing $56 per order and they experience an average lead time of six days for each order to arrive from the manufacturer. Their inventory carrying cost is 20 percent. The average daily demand for the figurines is two units per day. They are open for business 250 days a year. Answer the following questions: a. How many units should the firm order each time? Assume there is no uncertainty at all about the demand or the lead time. (Do not round intermediate calculations. Round up your answer to the next whole number.) Number of units b. How many orders will they place in a year? Number of orders per year c. What is the average inventory? (Round your answer to 1 decimal place.) Average inventory units d. What is the annual ordering cost?(Round your answer to 2 decimal places.) Annual ordering cost e. What is the annual inventory carrying cost?(Round your answer to 2 decimal places.) Annual inventory carrying cost Michigan State Figurine Inc. (MSF) sells crystal figurines to Spartan fans. MSF buys the figurines from a manufacturer for $25 per unit. They send orders electronically to the manufacturer, costing $34 per order and they experience an average lead time of eight days for each order to arrive from the manufacturer. Their inventory carrying cost is 20 percent. The average daily demand for the figurines is two units per day. They are open for business 250 days a year. The supplier decides to offer a volume discount. They will sell the crystal figurines at $11 per unit for orders of 250 units or more. Answer the following questions: a. How many units should the firm order each time? Assume there is no uncertainty at all about the demand or the lead time. (Round up your answer to the next whole number.) Number of units b. How many orders will they place in a year? Number of orders per year c. What is the average inventory? (Round your answer to 1 decimal place.) Average inventory units d. What is the annual ordering cost? (Round your answer to 2 decimal places.) Annual ordering cost e. What is the annual inventory carrying cost? (Round your answer to 2 decimal places.) Annual inventory carrying cost