Question: show all the work please The inventory management costs for a certain product are S = $8 per order, H = $1 to hold for

show all the work please

The inventory management costs for a certain product are S = $8 per order, H = $1 to hold for a year. Annual demand is 2400 units. Consider the following ordering plans: a) order all the 2400 at one time, (b) order 600 once each quarter, and (c) order 200 once each month.

a) Calculate the annual holding, setup costs, and the total inventory costs associated with each plan. (10 points)

b) Calculate the EOQ and compute the total inventory costs. Compare all the four total costs (the three from above) and the total inventory cost using EOQ. Which one is the cheapest?

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