Assume you have a product with the following parameters:

Annual demand= 360 units

Holding cost per year = 1 $ per unit

Ordering cost = $ 100 per order

Requirement:

1-What is the EOQ for this product (7.5 marks).?

2- What is the total holding and ordering costs (7.5 marks)?

3-Given the above data, how many orders should be processed per year (5 marks)? Assuming a 300-day work what is the expected time (days) between orders (5 marks)?