Table $1$

Peterson Enterprises uses a fixed order quantity inventory control system. The firm operates $50$ weeks per year and has the following characteristics for an item:

Demand $=50,000$ units$/$year

Ordering cost $=$$$\frac{35}{?}$ order

Inventory$-$carrying cost as a percent of item value $=25\%$

Item $($Unit$)$ value $=$$$8$

Lead time $=3$ weeks

Standard deviation in weekly demand $=125$ units

Using the information in Table $1,$ calculate the economic order quantity $($EOQ$)$ for this item?

Less than or equal to $1200$ units

Greater than $1200$ but less than or equal to $1400$ units

Greater than $1400$ but less than or equal to $1600$ units

Greater than $1600$ units