3.1 (10 MARKS) Decor Ltd has the following figures regarding its inventory Cost price per unit N$50 per unit Storage cost per unit per year N$5 per unit Weekly demand (usage) 2 000 units Normal delivery time 2.5 weeks Insurance cost per unit per year N$5 per unit Interest rate 9% Ordering cost for 2 orders N$80 Safety stock 5 000 units There are 50 normal working weeks per year, and four weeks in one month. REQUIRED: Mark 3.1.1 Calculate the economic order quantity (EOQ) 3.1.2 Calculate the number of orders per year 3.1.3 Determine the ordering cost per year 3.1.4 Determine the total inventory cost for the year 3.2 A wholesaler had an opening inventory of 242 units of large teddy bears valued at N$168 each on 1 April 2019. The following receipts and sales were recorded during April 2019, Date Transaction 4 April 19 Received 180 units at a cost of N$174 per unit 18 April 19 Received 90 units at a cost of N$186 per unit 24 April 19 Sold 432 units at a prices of N$320 per unit Mark Required: 22. Using the first in first out (FIFO) method of inventory valuation, what was the cost of the units sold on 24 April 2019