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A company with an inventory that has a $1.0 per unit carrying cost. The fixed order cost is $70 per order and the firm orders

A company with an inventory that has a $1.0 per unit carrying cost. The fixed order cost is $70 per order and the firm orders 8,000 units per month. Calculate the total inventory cost for this company?

A firm offers the following credit terms of 3/7 net 35. What is the effective annual rate on the credit extended if a customer foregoes the discount?

Round the effective annual rate to 2 decimals (e.g 22.05), and the unit is %.

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