ABC Company Limited forecasts its sales for next year of $16,000,000 or 400,000 pieces. Cost of goods sold of the merchandise is $20 per piece. Ordering costs are $50 per order, and its costs 0.5% of inventory value. Determine the optimal economic order quantity level. 8,945 pieces 63,245 pieces 28,284 pieces 20,000 pieces What is the effective annual rate if the nominal rate is 6 % and semiannual compounding is used?* 6.12% 6.03% 6.06% 6.09% The effective interest rate for a savings account that is compounded quarterly at 8% is: * 8.04% 8.24% 9% 8.76%