Problem 4. To get full credit, please show all your work. The Miami Shoe Co. maintains an inventory of shoes in a warehouse they rent locally. The monthly demand for shoes is 635 units. The shoes cost $38 per pair and the replenishment order is placed when the inventory reaches a certain level. The cost of placing the replenishment order is estimated to be $25. The annual inventory holding cost for each pair of shoes is 26% of the cost of the item. a. Based on the above data, calculate the EOQ for the Miami Shoe Co. b. Based on the above data, calculate the corresponding total cost purchase lot (TCP). c. How valid are the assumptions for the simple EOQ model