Question: Central University uses $ 1 2 3 , 0 0 0 of a particular toner cartridge for laser printers in the student computer labs each

Central University uses $

123, 000

of a particular toner cartridge for laser printers in the student computer labs each year. The purchasing director of the university estimates the ordering cost at

5, 45

and thinks that the university can hold this type of Inventory at an annual storage cost of

22 %

of the purchase price. How many months' supply should the purchasing director order at one time to minimize the total annual cost of purchasing and carrying?

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