Suppose Jones Corporation in the above problem determined that its annual inventory carrying cost 5 18 percent. The item unit cost was as follows:
Item 1 5 $25.00
Item 2 5 $60.00
Item 3 5 $5.00
Item 4 5 $10.00
Item 5 5 $1.00
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.