Question: Given the following data for a particular inventory item:USAGE: 5 0 0 units per weekORDERING COST: $ 4 0 per orderHOLDING COST: 1 cent per

Given the following data for a particular inventory item:USAGE:500 units per weekORDERING COST: $40 per orderHOLDING COST: 1 cent per unit each weekLEAD TIME:3 weeksPRICE:50 cents per unitWhat is the economic order quantity for this item? (show your work)

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