Question: The following table contains data about the inventory for five items and its unit cost at Jones Corporation. Item Average Unit Inventory Unit Cost 1

The following table contains data about the inventory for five items and its unit cost at Jones Corporation. Item Average Unit Inventory Unit Cost 1 185,000 $30.00 2 90,000 $70.00 3 120,000 $12.00 4 385,000 $26.00 5 94,000 $11.00 Suppose Jones Corporation determined that its annual inventory carrying cost = 16 percent. Compute the dollar values for the information in the above table, determine the annual inventory carrying cost for each item, and the total annual inventory carrying cost. (Omit the $ sign in your response.) Inventory Carrying Cost Item 1 $ ____ Item 2 $ ____ Item 3 $ ____ Item 4 $ ____ Item 5 $ ____

Total annual inventory carrying cost $ ____

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