Question 1 of 30
A manufacturing company is analyzing its inventory management processes to optimize stock levels and reduce carrying costs. The company has three types of inventory: raw materials, work-in-progress (WIP), and finished goods. The total carrying cost for each type of inventory is calculated as a percentage of the inventory value. The carrying costs are as follows: raw materials at 20%, WIP at 30%, and finished goods at 15%. If the company has $50,000 worth of raw materials, $30,000 worth of WIP, and $70,000 worth of finished goods, what is the total carrying cost for all inventory types?
$19,500
$18,000
$21,000
$22,500

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