L. Houts Plastics is a large manufacturer of injection-molded plastics in North Carolina. An investigation of the company's manufacturing facility in Charlotte yields the information presented in the table below. How would the plant classify these items according to an ABC classification system? (Round dollar volume to the nearest whole number and percentage of dollar volume to two decimal places.) L. Houts Plastics Charlotte Inventory Levels Item Code Avg. Value Inventory (units) ($/unit) Dollar Volume % of Dollar Volume 1289 420 3.50 2347 300 4.00 1,200 36.05 2349 120 2.50 300 9.01 2363 65 1.50 2394 60 1.75 105 3.15 2395 25 6782 7844 8210 8310 9111 222076 2.25 1.15 23 0.69 12 2.05 25 0.74 10 2.00 2.00 14 0.42 3.00 18 0.54 3,328
L. Houts Plastics is a large manufacturer of injection-molded plastics in North Carolina. An investigation of the company's manufacturing facility in Charlotte yields the information presented in the table below. How would the plant classify these items according to an ABC classification system? (Round dollar volume to the nearest whole number and percentage of dollar volume to two decimal places.) L. Houts Plastics Charlotte Inventory Levels Item Code Avg. Value Inventory (units) ($/unit) Dollar Volume % of Dollar Volume 1289 420 3.50 2347 300 4.00 1,200 36.05 2349 120 2.50 300 9.01 2363 65 1.50 2394 60 1.75 105 3.15 2395 25 6782 7844 8210 8310 9111 222076 2.25 1.15 23 0.69 12 2.05 25 0.74 10 2.00 2.00 14 0.42 3.00 18 0.54 3,328
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 6PA: Data on the physical inventory of Ashwood Products Company as of December 31 follow: Quantity and...
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