Use the information below, which was obtained from a retaile…
Use the information below, which was obtained from a retailer on one of its products, to answer the following question. Demand = {D} units/day Ordering costs = ${S}/order Holding costs =${H}/unit/yr Unit cost = ${C}/unit Unit selling price = ${P}/unit Lead-time = {L} weeks Number of weeks per year = 50 weeks Number of days per week = 5 days If the company uses the EOQ, what is the total cost of the inventory policy? (answer to the nearest whole number) Helpful information