Question: Please answer questions a,b,and c Item X is a standard item stocked in a company's inventory of component parts. Each year the firm, on a

Please answer questions a,b,and c

Item X is a standard item stocked in a company's inventory of component parts. Each year the firm, on a random basis, uses about 1,700 of item X, which costs $25 each. Storage costs, which include insurance and cost of capital, amount to $8 per unit of average inventory. Every time an order is placed for more of item X, it costs $26. a. Whenever item X is ordered, what should the order size be? (Round your answer to the nearest whole number.) Order size b. What is the annual cost for ordering item X? (Round your answer to 2 decimal places. Round your intermediate calculation.) Ordering cost c. What is the annual cost for storing item X? (Round your answer to 2 decimal places. Round your intermediate calculation.)

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