Question: A company assembles several components to make a product. One of the components needed are purchased for $24.8 per unit from a supplier. Annual demand

A company assembles several components to make a product. One of the components needed are purchased for $24.8 per unit from a supplier. Annual demand of the component is constant at 11,725 units, the holding cost per year is 11.4 percent of the unit purchase price, and the cost to place an order is $28. The order lead time is 4 days. The company operates 250 days per year. Assume EOQ model is appropriate. What is the optimal annual inventory cost? Use at least 4 decimal places

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