PLEASE NOTE THAT THE LAST TWO DIGITS ARE (3)

PLEASE SOLVE ALL PARTS

Q2) The manager of the specialized electronic store considers using EOQ analysis to determine the order quantity for 22mm lens in 2021 taking the inventory cost into account. He forecasts that the demand for 2021 will be (4000+100 the last digit of your student number) units. Other relevant data is as follows: Each 22mm lens costs $2000. Annual holding cost is $500 per unit per year. Ordering cost is $3000 per order a) Calculate the annual demand using your student number. (3 points) b) What is the economic order quantity, EOQ? (5 points) c) What is the total annual cost of managing the inventory? (6 points) d) What is the number of orders per year? (4 points) e) What is the average inventory? ( 4 points) f) The manager considers another supplier which would reduce the ordering cost to $2500 but the holding cost would increase to $550. Is the new supplier a better option? ( 5 points)