Excel Sports (ES) operates a megastore featuring sports merchandise. It uses an EOQ decision model to make inventory decisions. ES is now considering inventory decisions for its Los Angeles Galaxy soccer jackets product line. This is a highly popular item. Data for 2013 are as follows: (Click the icon to view the data.) Requirements 1. Calculate the EOQ. 2. Calculate the number of orders that will be placed each year. 3. Calculate the reorder point. Requirement 1. Calculate the EOQ. Begin by selecting the formula used to calculate EOQ. (D= Demand in units for one year, P = Ordering cost per purchase order, C-Carrying cost of one unit in stock. Q Any order quantity) Data Table Expected annual demand for Galaxy jackets Ordering cost per purchase order Carrying cost per year 16,000 $ 120 6 per jacket Each jacket costs Excel Sports $50 and sells for $100. The $6 carrying cost per jacket per year comprises the required return on investment of $5.00 (10% x $50 purchase price) plus $1.00 in relevant insurance, handling, and theft-related costs. The purchasing lead time is 7 days. ES is open 365 days a year