Question: please show step by step work so I can understand and learn from your response. Thank you The Wardrobe Home estimated that they will require

please show step by step work so I can understand and learn from your response. Thank you

The Wardrobe Home estimated that they will require 28,000 wardrobes over the next year. Administrative and other costs associated with placing an order are estimated to be $15 per order. The Wardrobe Home uses a rate of 24% per year for calculating inventory holding costs. The Wardrobe Home encourages its customers to order in large quantities by offering a price break on volume. The price per wardrobe depends on the order quantity as follows: Price per wardrobe 30 Order Size 0-299 300 - 749 750+ 28 26 a. b. Determine the optimal order quantity for this item. On average, how many orders will The Wardrobe Home place per year? If the lead-time is two weeks, what is the reorder point? c

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