Question: Problem 1: (20 Points) A company decides to establish an EOQ for an item. The annual demand is 300,000 units. The ordering costs are $50

Problem 1: (20 Points)

A company decides to establish an EOQ for an item. The annual demand is 300,000 units. The ordering costs are $50 per order, and inventory-carrying costs are $4 per unit per year. Calculate the following:

(a). The EOQ in units.

(b). Number of orders per year.

(c). Annual ordering cost, annual holding cost, and annual total cost

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