PROBLEM #$2$: Inventory Control

The Everett Jewels Company sells watches. Annual demand for watches is $48000.$ The purchase cost of a watch is $$38\mathrm{.}00.$ The annual inventory holding rate is $20\%$ of the purchase cost. The cost of placing an order is $$114\mathrm{.}00.$ The lead$-$time is $4$ days, and assume that there are $200$ working days in the year. Round off numbers to the nearest integer, if necessary.

What Suppose you order every time a quantity equal to the EOQ. Then, what is the total cost of placing the orders and holding inventory per year? $($Hint: You need to calculate: TC$=$AOC$+$AHC