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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. 175,000 $18.00
2. 54,000 $53.00
3. 95,000 $6.00
4. 225,000 $12.00
5. 59,000 $1.00
Suppose Jones Corporation determined that its annual inventory carrying cost = 18 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.
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