Annual purchasing salaries are $75,000, operating expenses for the purchasing department are $25,000 and receiving costs are $30 per order. If the department places 10,000 orders a year, what is the average cost of ordering? What is the annual cost of ordering? If the annual cost of goods sold is $10 million and average inventory is $2.5 million What is the Inventory turns ratio? What would be the reduction in average inventory if the inventory turns were increased to 10 times/year? If the cost of carrying inventory is 20% what was the annual savings from the above question? Given the following, calculate the Gross Margin and the Net income Given the following calculate a level production plan, quarterly ending inventory and average inventory per quarter. The carrying costs per item per quarter is $6. What is the annual carrying cost? Both opening and ending inventory balances are 0