STATISTICS

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Pure Plastics Inc. manufacture molded plastic pieces. A sample of their raw material inventory is shown in the table below:

Item Average Inventory (units) Value ($/unit)
128 400 3.75
234 300 4.00
233 120 2.50
236 75 1.50
239 60 1.75
240 30 2.00
678 20 1.15
784 12 2.05
821 8 1.80
831 7 2.00
911 6 3.00

A) How would the plant classify these items according to an ABC classification system?
B) How can Pure Plastics use this information?

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