Help with the blanks on the bottom.

Fiber Technology, Inc., manufactures glass fibers used in the communications industry. The company's materials and parts manager is currently revising the inventory policy for XL-20, one of the chemicals used in the production process. The chemical is purchased in 10-pound canisters for $109 each. The firm uses 7,000 canisters per year. The controller estimates that it costs $164 to place and receive a typical order of XL-20. The annual cost of storing XL-20 is $5.40 per canister.

Required:

1. a table showing the total annual cost of ordering and storing XL-20 for each of the following order quantities: 500, 700, and 1,000 canisters.

Order size

500. 700. 1000

Number of orders. ______, ______, ______

Ordering cost. ______, ______, ______

Average Inventory. ______, _______, _______

Holding costs ______, _______, _______

total annual costs. ______, _______, _______