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Fisk Corporation is trying to improve its inventory control system and has installed an on- line computer at its retail stores. Details related to Fisk's

Fisk Corporation is trying to improve its inventory control system and has installed an on- line computer at its retail stores. Details related to Fisk's purchasing are shown below.

Monthly expected purchases (in units) 8,000

Ordering costs (per order) $ 6.25

Carrying costs (per unit) $ 1.24 REQUIRED

a) What is the economic ordering quantity?

b) How many orders will be placed during the year?

c) What will the average inventory be?

d) What is the total cost of inventory expected to be?

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