Question: Question #7 - 20 points The annual demand, ordering cost, and the inventory carrying cost rate for a certain item are D=600 units, S =

Question #7 - 20 points The annual demand, ordering cost, and the inventory carrying cost rate for a certain item are D=600 units, S = $20/order and I = 30% of item price. Price is established by the following quantity discount schedule. What should the order quantity be in order to minimize the total annual cost? Quantity 50 to 249 1 to 49 $5.00/unit 250 and up $4.10/unit Price $4.50/unit (IMPORTANT. Show background calculations or zero points will be given)

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