Question: 3. This question will have you calculating two EOQ and ROP values and interpreting the results. For both EOQ and ROP, give your final answer

3. This question will have you calculating two EOQ and ROP values and interpreting the results. For both EOQ and ROP, give your final answer in full sock sets (ROUND UP to the next whole number). The specific questions to answer are based in parts a-c. Tips to solve the EOQ and ROP are given below in bullet points. a) Calculate EOQ and ROP for FY2018 based on the FY2018 forecast value/method that you recommended in Question #1. b) Calculate the EOQ and ROP based upon actual demand for FY2018 c) Using the responses from parts a & b, indicate what the implications are for inventory management costs in FY2017. Specifically i. Compare the total costs for both EOQ values and analyze what it shows you. ii. What if any are the implications of the ROP based on the forecast vs the ROP based on actual demand

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