Consider an inventory system model where the annual ordering cost is $80,000 per year, and the total annual holding cost is $60,000 per year. Suppose the company currently uses a consistent order size of 3000 units at a time (based on the executives discussions with the supplier). Which one of the following statements is true about the optimal order quantity (EOQ)?

Group of answer choices

EOQ > 3000

EOQ < 3000

EOQ = 3000

We cannot make any determination with the given information