A company has collected the following inventory data for an item. What is the total annual cost for this item? 
Definitions:
Logical Thought Processes
The rational and coherent consideration and application of information to arrive at conclusions or solve problems.
Identical Glasses
Glasses that are exactly the same in appearance and specifications.
Concrete Operations
This stage in Piaget's theory of cognitive development describes children aged 7-12 years becoming capable of logical thought processes but still struggling with abstract concepts.
Cognitive Development
The process by which individuals perceive, think, and gain understanding through the interaction of genetic and learned factors.
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