Section 2] Inventory Management Question 2-1. (Economic Order Quantity) Stark Industry is trying to decide between two alternate Order Plans for its inventory of a certain item. Irrespective of the plan to be followed, demand for the item is expected to be 1,000 units annually. Under Plan Ist, suggested by Mr. Happy Hogan, Stark Industry would use a teletype for ordering; order costs would be $40 per order. Inventory holding costs would be $100 per unit. Under Plan 2nd, recommended by Ms. Potts, order costs would be $30 per order. Holding costs would 20% of unit cost, and unit cost is $480 under the second plan. A) Find out EOQ under each policy. B) Find out Total Inventory Cost (based on EOQ) under each policy. C) Please decide which plan would result in the lowest total inventory cost