Question: please solve fast in text format ...handwritten solution not allowed ...dont use chat gpt 4.) A bicycle manufacturer keeps a stock of wheel tires as
please solve fast in text format ...handwritten solution not allowed ...dont use chat gpt

4.) A bicycle manufacturer keeps a stock of wheel tires as a standard item in the company's inventory of component parts. Each year the company, on a random basis, uses about 3,000 of these tires, which costs $20 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 these tires, it costs $10. Whenever tires are ordered, what should the order size be to minimize total costs? What is the annual cost for ordering tires? What is the annual cost for storing tires
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