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,

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 1 to 49 50 to 249 250 and up $5.00/unit $4.50/unit $4.10/unit (IMPORTANT Show background calculations or zero points will be given). Price

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