For the Economic Order Quantity $($EOQ$)$ model used in inventory management, which of the following is NOT true?

Group of answer choices

At the EOQ, the annual holding cost is equal to the annual ordering cost.

The total annual cost $($sum of annual holding cost and annual ordering cost$)$ of inventory management is minimum at the EOQ.

If the annual demand doubles $($all else remaining unchanged$),$ the EOQ will also double.

The value of the EOQ depends on the ordering $($or setup$)$ cost per order, the holding $($or carrying$)$ cost per unit per year, and the annual demand of the product.