Question: Find the above attached question and give the answer properly. (ii)Item X is a standard item stocked in a company's inventory of component parts. Each

Find the above attached question and give the

Find the above attached question and give the answer properly.

(ii)Item X is a standard item stocked in a company's inventory of component parts. Each year the firm uses about 2,000 of item X. Holding costs, which include insurance and cost of capital, amount to $5 per unit of average inventory. Every time an order is placed for more of item X, the cost is $10. Calculate: (a) EOQ, (b) Annual cost of ordering (c) Annual cost of storing. 3 Marks

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