Question: EOQ Model: Exercises The ePaint Store stocks paint in its warehouse and sells it online on its internet website. The store stocks several brands of

EOQ Model: Exercises The ePaint Store stocks
EOQ Model: Exercises The ePaint Store stocks paint in its warehouse and sells it online on its internet website. The store stocks several brands of point; however, its biggest seller is Sharman-Wilson Ironcoat. The annual demand of this item is constant at 10,000 gallons a year, the annual inventory holding cost is $0.75 per gallon, and the order cost is $150 per order. a. Compute the optimal order quantity b. Compute the annual ordering cost when the optimal order quantity is used. c. Compute the annual inventory holding cost when the optimal order quantity is used. d. Compute the number of orders per year when the optimal order quantity is used. e. Compute the time between orders when the optimal order quantity is used. Compute the average inventory when the optimal order quantity is used. g. Compute the reorder point if the supplier of Sharman-Wilson Ironcoat takes 10 days to deliver the order. Assume 365 days a year

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