Question: Problem 1: (20 Points) A company decides to establish an EOQ for an item. The annual demand is 400,000 units, each costing $10, ordering costs

Problem 1: (20 Points) A company decides to
Problem 1: (20 Points) A company decides to establish an EOQ for an item. The annual demand is 400,000 units, each costing $10, ordering costs are $32 per order, and inventory-carrying costs are 20%. Calculate the following: a. The EOQ in units. b. Number of orders per year. c. Cost of ordering, cost of carrying inventory, and total cost

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