Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I need help with this question about ABC inventory management Question 1 18 pts These questions require computations. Computations should be clearly shown.|| A retail
I need help with this question about ABC inventory management
Question 1 18 pts These questions require computations. Computations should be clearly shown.|| A retail shop specializing in mobile phone sales offers an assortment of 20 different models. For inventory management of these models, an analyst has developed the following ABC classification. Annual Total Component Consumption Price Per unit consumption% Cumulative Number (in Units) in $) (in $) Consumption Percentage Classification 5 3830 9.5 36385 37.03% 37.03% A 15 710 31.6 22436 22.84% 59.87%A 12 2980 4.2 12516 12.74% 72.61% A 1 1480 6.1 9028 9.19% 81.80% A 9 4820 0.3 3374 3.43% B5.23% B 8 3590 0.9 3231 3.29% 88.52%B 3 10120 0.2 2024 2.06% 90.58%B 11 1900 1.01 1919 1.95% 92.53%B 7 4180 0.45 1881 1.919 94.45%B 16 4700 0.38 1786 1.82% 96.26% 4 3520 0.4 1408 1.43% 97.70% 6 4368 0.25 1092 1.11% 98.81%C 14 1100 0.44 484 0.49% 99.30% 13 1050 0.3 315 0.32% 99.62% 2 1680 0.15 252 0.26% 99.88% 10 6000 0.02 120 0.12% 100.00% Total 98251 Is this classification appropriate considering the percentages traditionally accepted for the ABC classification method? Complete the following table and analyze the results to justify your answer Solve A Percentage of total number of items Percentage of total annual value (5) Enter the answers for B Percentage of total number of items Percentage of total annual value (5) Enter the answers for Percentage of total number of items: 1) A Category 2) B Category 3) C Category Percentage of total annual value: 1) A Category 2) B Category 3) C Category
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started