The module is working capital management

[10 MARKS] QUESTION 3 REQUIRED Use the information provided below to determine the 3.1 Economic order quantity if discounts are not available (round up EOQ to the nearest whole number) (1 Mark) 1 3.2 Economic order quantity if discounts are available. (where necessary round off amounts to two decimal places) (9 Marks) INFORMATION The following information was provided by Illovo Enterprises for a product that it sells: Annual demand 120 000 Unit cost R60 Fixed cost per order R20 Annual carrying cost per unit 10% of unit cost A supplier has offered the following discount scheme for purchases to Illovo: Discount 0% Order size 0-2 000 2001-5000 3% 4% 5001 +