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Inventory Details: Item Quantity Unit Cost Total Cost Inventory A 500 units $10 $5,000 Inventory B 300 units $15 $4,500 Calculate the total cost of

Inventory Details:

ItemQuantityUnit CostTotal Cost
Inventory A500 units$10$5,000
Inventory B300 units$15$4,500
Calculate the total cost of inventory. Discuss the importance of inventory management.                  

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