First Rate (FR) operates a megastore featuring sports merchandise. It uses an EOQ decision model to make inventory decisions. It is now considering inventory decisions for its Los Angeles Galaxy soccer jerseys product line. This is a highly (Click the icon to view the data.) popular item. Data for 2017 are as follows: Read the requirements. 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.) (Round your answer to the nearest whole number.) The EOQ is jerseys. Requirement 2. Calculate the number of orders that will be placed each year. Determine the formula used to calculate the number of orders that will be placed each year, then calculate the orders per year. (Round your answer up to the nearest whole number.) = Number of orders orders per year Requirement 3. Calculate the reorder point. Determine the formula, then calculate the reorder point. (Enter any calculated number in the formula to two decimals, X.XX. Round your answer to the nearest whole number.) x = Reorder point = jerseys Data table Expected annual demand for Galaxy jerseys Ordering cost per purchase order 7,000 $245 $7 per jersey Carrying cost per year Each jersey costs FR $45 and sells for $90. The 7 carrying cost per jersey per year consists of the required return on investment of $3.60 (8% $45 purchase price) plus $3.40 in relevant insurance, handling, and storage costs. The purchasing lead time is 7 days. FR is open 365 days a year. Print Done Requirements 1. Calculate the EOQ. 2. Calculate the number of orders that will be placed each year. 3. Calculate the reorder point. Print Done