The cost of warehouse space is allocated to three inventories: raw materials, work-in-process, and finished goods....
The cost of warehouse space is allocated to three inventories: raw materials, work-in-process, and finished goods. The inventories use the warehouse space in the ratio of 5/12 to 1/5 to 3/7 respectively. If the total warehouse space is 8.4 million square metres, at a cost of $12.6871 million, how much of the cost should be allocated to each of the inventories?
Inventories + Cost
1. Raw materials
$ _____ million
2. Work-in-process
$ _______million
3. Finished goods
$ ________ million
(Round to four decimal places as needed.)
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The cost of warehouse space is allocated to three inventories:
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