Question: (3) Terrence, Inc. uses the Continuous Review System for managing its inventory. The annual demand for its product is 50,000 units. Cost to hold I

(3) Terrence, Inc. uses the Continuous Review System for managing its inventory. The annual demand for its product is 50,000 units. Cost to hold I unit of inventory for 1 year is $24.00 and the cost it incurs to place an order is $60.00. Determine the following: (a) The Economic Order Quantity (E00) in units 13 points (b) The optimum number of orders per year 12 points) (c) The optimum inventory holding cost 12 points) Do Your Calculations Below

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