Given the following data for a particular inventory item:

USAGE: 500 units per week

ORDERING COST: $40 per order

HOLDING COST:

1 cent per unit each week

LEAD TIME: 3 weeks

PRICE: 50 cents per unit

2. For the economic order quantity, what is the length of an order cycle? Show your work.

4. For the economic order quantity, what are average weekly ordering costs? Show your work.

5. For the economic order quantity, what are average weekly holding costs? Show your work.