Advance Operations Management

QUESTION 1- INVENTORY MANAGEMENT - 25 Marks Part 1 ('7 Marks) a)A store sells 30 decorated T-shirts a day for each of the 300 days a year it is open. The silk- screen shop across the street applies the decorations and delivers them to the store as they are nished at a rate of 60/day. If the cost of ordering is $10, each shirt is worth $20, and the inventory carrying cost percentage is 25%. i) Compute the Economic Production Quantity(EPQ) (4 Marks) ii) Determine the total cost of managing this inventory system? (3 hiarks)