A large law firm uses an average of $16$ packages of copier paper a day. Each package contains $500$ sheets. The firm operates $250$ days a year. Holding cost for the paper is $$1$ per year per package, and ordering cost is $$7$ per order.

a$.$ What order quantity would minimize total annual ordering and holding cost? $($Round the final answer to the nearest whole number.$)$

EOQ$\_\_\_\_\_\_\_\_\_\_$packages

b$.$ Calculate the total annual inventory control cost using your order quantity from part a$.($Round the final answer to $2$ decimal places.$)$

TC$\_\_\_\_\_\_\_\_\_$$

c$.$ Except for rounding, are annual ordering and holding costs equal at the EOQ?

multiple choice $1$

Yes

No

d$.$ The office manager is currently using an order quantity of $180$ packages. The partners of the firm expect the office to be managed in a cost$-$efficient manner. Would you recommend that the office manager use the optimal order quantity instead of $180$ packages?

multiple choice $2$

Yes

No