Attempts: Keep the Highest: 12 13. Calculate economic ordering quantity (EOQ) Inventory costs can be categorized as the costs incurred for holding the inventory, the costs of ordering and receiving the inventory, and the cost of running out of inventory. costs relate to the placing and receiving of orders for inventory. The number of units in the optimal size order is called the economic ordering quantity (EOQ). Sandberg Company purchases custom-made durable packing boxes to ship its equipment. Each year, Sandberg uses 120,000 boxes. It costs Sandberg $113 to place each order, and the purchase price is $1.92 per box. An analysis indicates that carrying costs are 25% of the purchase price. Based on the information provided, solve for the values under Sandberg's EOQ policy in the following table. Value EOQ for packing boxes Number of orders per year Total ordering cost for the year Total carrying cost for the year Total inventory-related cost per year