Question: please help me solve the question Question 1 Annual demand for good X is 100,000. Order costs are 10$ per order. The costs include wages,
please help me solve the question
Question 1 Annual demand for good X is 100,000. Order costs are 10$ per order. The costs include wages, the form used in placing the other, etc. Furthermore, the cost of carrying one unit of good X in inventory for a year is 0.5 cent. Assume that the demand is constant throughout the year. a) How many units of good X do you need to order at a time if you want to minimise costs? b) How many orders per year would be placed? c) What would the annual ordering cost be? d) What would the average inventory be? e) What would the annual holding cost be
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