Question: Question 53 3 pts Consider a university that purchases replacement chairs for its classrooms. The purchasing manager knows that the ordering costs are $200/order, the

Question 53 3 pts Consider a university that purchases replacement chairs for its classrooms. The purchasing manager knows that the ordering costs are $200/order, the inventory holding costs are $15/chair/year and the annual demand for replacement chairs is 500. The pricing schedule is as follows: Order Size Price 100-199 $130 200-499 $122 500+ $120 What is the economic order quantity? W 500 100 200 116 None of these answer choices is correct

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