Humber Inc. buys items for $45.00 each. It costs $240.00 to place an order with the supplier. Annual demand is 18,500 units, and the annual holding costs are charged at 8%.

(a) Find the economic order quantity and the optimal time between orders.

The annual number of items demandedD is:

The fixed cost per orderC0 is:

Enter I in decimal form (i.e. 0.03 instead of 3.00%)

The annual holding cost rate Iis:

The unit cost of the inventory itemCis:

Round your answer forChto 2 decimals.

The cost of holding one item in inventory for one yearChis:

Round your answer forQup to the nearest whole number.

The economic order quantity isQis

Round your answer forTto the nearest whole number.

The optimal time (in days) between orders is Tis