Find the economic order quantity, and the reorder point, given Annual demand (D) = 1,000 units Average daily demand (d) = 1,000/365 Ordering cost (Cp) = $5 per order Holding cost (C_h) = $1.25 per unit per year Lead time (L) = 5 days Cost per unit (C) = $12.50 What quantity should be ordered? Consider a basic economic order quantity (EOQ) model with the following characteristics: Item cost: $25 Item selling price: $20 Monthly demand: 500 units (constant) Annual holding cost: 9% of purchase cost Cost per order: $24 Order lead time: 5 days Firm's work year: 300 days (50 weeks @ 6 days per week) Safety stock: 15% of monthly demand The optimal order Quantity, Q* is