EOQ and Reorder Point (25 points) (12.15) Joe Henry’s machine shop uses 2,500 brackets during the course of a year. These brackets are purchased from a supplier 90 miles away. The following information is known about the brackets: 

a) Given the above information, what would be the economic order quantity (EOQ)? 

b) Given the EOQ, what would be average inventory and what would be the annual holding cost?

c) Given the EOQ, how many orders would be made each year and what is the time between

orders?

d) Given the EOQ, what is the total annual cost of managing inventory?

e) What is the reorder point (ROP)?