A supermarket sells 300 bags of sugar a day and is open 360 days per year. The cost of each bag of sugar is $0.40, the cost of placing an order is $45.00 and the holding cost is 10% of the price of the item per year. Based on the information provided, and using the equation for the Economic Order Quantity, (Q) below, calculate:

EOQ = square root of: [2(setup costs)(demand rate)] / holding costs

i) The economic order quantity

ii) the cost of placing all the orders in a year

iii) the cost of holding stock for a year

iiii) the total cost of operating the inventory system