Discuss the below:
Q: Sam's Furniture Store sells living room furnitures in the city of Bridgewater. For a particualr bookshelf, the holding cost is 16% per year. The company sells it for $75 and make a profit of $25 on each bookshelf. The annual inventory turns are 9.5. The shipping cost is $450 each time Sam purchases from the manufacturer. What is the average cost to hold the bookshelf in inventory (in $) for Sam?