I use the formula for the inventory carry cost :

inventory carry cost = Average inventory * Unit cost * annual inventory carry cost percent

= 185000 * 30 * 0.16. = 888000

Could you help me to find out where I did wrong? My answer is still wrong with 4.17/5 pts scale

Thank you,

Partial 4.17/5 pts Question 3 The following table contains data about the inventory for five items and its unit cost at Jones Corporation. Item 2 3 Average Unit Inventory 185,000 90,000 120,000 385.000 94,000 Unit Cost $30.00 $70.00 $12.00 $26.00 $11.00 4 5 Suppose Jones Corporation determined that its annual inventory carrying cost = 16 percent. Compute the dollar values for the information in the above table, determine the annual inventory carrying cost for each item, and the total annual inventory carrying cost. (Omit the "$" sign in your response.) Inventory Carrying Cost Item 1 $ 888000 Item 2 1008000 Item 3 $ 230400 Item 4 $ 1601600 Item 5 $ 165440 Total annual inventory carrying cost $. 3893440 18 Question 3 19 Average Inventory Unit Cost 20 185000 21 90000 22 120000 23 385000 24 94000 Inventory carry cost 30 888000 70 1008000 12 230400 26 1601600 11 165440 3893440 25 26 27 Annual inventory carry Cost = 16 %