13. Calculate economic ordering quantity (EOQ) Inventory costs can be categorized as the costs incurred for holding the inventory, the costs of ordering and receiving the inventory, and the cost of running out of inventory. costs are the direct and indirect costs of keeping inventory on hand. The number of units in the optimal size order is called the economic ordering quantity (EOQ). Murphy Company purchases custom-made durable packing boxes to ship its equipment. Each year, Murphy uses 190,000 boxes. It costs Murphy $114 to place each order, and the purchase price is $1.92 per box. An analysis indicates that carrying costs are 25% of the purchase price. Based on the information provided, solve for the values under Murphy's EOQ policy in the following table. Value EOQ for packing boxes Number of orders per year Total ordering cost for the year Total carrying cost for the year Total inventory-related cost per year