SA$1$QUESTION $1.$FINANCIAL MANAGEMENT CONCEPTS AND CONTROLS$[25$ MARKS$]1\mathrm{.}1$Economic Order Quantity $[$EOQ$].(212$ marks$)$ You have been promoted as the Purchasing Manager at Jumbo Wholesalers. You have picked up the following information from the Purchasing File : $3000$ of a particular type of school bag is purchased annually at R$60$ per bag. These bags are sold at R$99$ each. The cost of placing a single order amounts to R$12.$ The inventory holding cost amounts to R$5$ per bag. Calculate the Economic Order Quantity for this inventory.