Question: Please include the step you will take to solve it in the software, thank you. 8. Assume you have a product with the following parameters:

Please include the step you will take to solve it in the software, thank you.

8. Assume you have a product with the following parameters: Demand = 360 Holding cost per year $1.00 per unit Order cost $100 per order (1) What is the EOQ? (2) Assuming a 300-day work year; how many orders should be processed per year? What is the expected time between orders? (3) What is the total cost for the inventory policy? (4) Assume that the demand was actually higher than estimated (i.e., 500 units instead of 360 units). What will be the actual annual total cost

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