Your company has compiled the following data on the small set of products that comprise the specialty repair parts division.Perform ABC analysis on the data.Which products do you suggest the firm keep the tightest control over? Explain.
Definitions:
Net Income
The amount by which revenues exceed expenses.
Cost Of Goods Sold
The direct costs attributable to the production of the goods sold by a company.
Profitability Ratios
Financial metrics used to assess a business's ability to generate earnings relative to its revenue, operating costs, balance sheet assets, or shareholders' equity.
Operating Effectiveness
A measure of how well an organization is managing its core business functions to achieve its objectives efficiently and effectively.
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