• Identify and write out each formula you will need to work out the problem, you will find all the formulas in the textbook, under section 11-4 Managing Fixed Quantity Inventory Systems
• For each formula:
  • further identify every single variable, from every single equation, required to figure out the EOQ and for each of these variables:
    • provide a definition for each variable,
    • make sure you provide the meaning for each variable, give real-life examples
    • if you can, provide a numerical value from the problem example (Problem #6, Pg. 237, or from the solution provided) that fits the variable.
• You may use MS Word or MS Excel to make a table, that clearly outlines a definition, and meaning for each variable, and in turn each formula.
• One submission per work group. Must be submitted on LMS.