The EastCoasters Bicycle Shop stocks bikes; helmets; clothing; a variety of bike parts including chains, gears, tires,
The EastCoasters Bicycle Shop stocks bikes; helmets; clothing; a variety of bike parts including chains, gears, tires, wheels; and biking accessories. The shop is in a storefront location on a busy street and it has very limited storage space for inventory. It often runs out of items and is unable to serve customers. To help manage its inventory the shop would like to classify the stock using the ABC system. Following is a list of items the shop stocks and the annual demand and unit value for each:
Classify the inventory items according to the ABC approach using dollar value of annualdemand.
Stocks Stocks or shares are generally equity instruments that provide the largest source of raising funds in any public or private listed company's. The instruments are issued on a stock exchange from where a large number of general public who are willing...