what is the per unit inventory holding cost in percentage? ?
For company CCC, let us assume that the annual inventory cost is 29% (for example, it costs the company $35 annually to hold an item that was purchased at $100). If the inventory turn is 8.5 turns, what is the per unit inventory holding cost in percentage?
Ignore the percentage sign, and round your answer to two decimals. For example, if your answer is 0.45123 or 45.123%, fill in 45.12; if your answer is 0.00021 or 0.021%, fill in 0.02.
My work: 35 = (100/2)*(H/100)
therefore: H = 35*2 = 70 Percentage
This is incorrect, not sure what I am doing wrong
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