Question: Please help me solve: Problem 11-21 (Algo) Item X is a standard item stocked in a company's inventory of component parts. Each year the firm,

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Problem 11-21 (Algo) 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 1,500 of item X, which costs $25 each. Storage costs, which include insurance and cost of capital, amount to $5 per unit of average inventory. Every time an order is placed for more of item X, it costs $6. a. Whenever item X is ordered, what should the order size be? Note: Round your answer to the nearest whole number. Order size b. What is the annual cost for ordering item X? Note: Round your order quantity to the nearest whole number and your final answer to 2 decimal places. Ordering cost c. What is the annual cost for storing item X? Note: Round your order quantity to the nearest whole number and your final answer to 2 decimal places. Holding cost

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