Problem $7-12($Algo$)$

Meyer Stores carries a specialty line of flavored syrups. On average, Meyer sells $35$ bottles per week of its popular raspberry syrup.

Meyer's cost is $$9$ per bottle. Meyer has determined its order cost to be $$66$ and inventory carrying cost is $20$ percent. Meyer is open

for business $52$ weeks per year.

a$.$ What is the EOQ for raspberry syrup?

b$.$ If Meyer orders the EOQ quantity each time, what will be the inventory turnover rate for raspberry syrup? $($Hint$.$ Inventory turnover $=$

Annual sales in units $/$ Average inventory in units.$)$

Complete this question by entering your answers in the tabs below.

What is the EOQ for raspberry syrup?

Note: Round up your answer to the next whole number.

EOQ

unitsMeyer Stores carries a specialty line of flavored syrups. On average, Meyer sells $35$ bottles per week of its popular raspberry syrup. Meyer$$s cost is $$9$ per bottle. Meyer has determined its order cost to be $$66$ and inventory carrying cost is $20$ percent. Meyer is open for business $52$ weeks per year.

What is the EOQ for raspberry syrup?

If Meyer orders the EOQ quantity each time, what will be the inventory turnover rate for raspberry syrup? $($Hint: Inventory turnover $=$ Annual sales in units $/$ Average inventory in units.$)$