Larry Styles, owner of Stylish Lamps, is a large retailer of specialty lamps. Larry is trying to minimize ordering and selling costs. The company sells 115,057 lamps a year. Ordering costs are $110 per order and annual carrying costs are $5 per lamp. Larry likes to keep 170 lamps in inventory at all times.

You have calculated Stylish Lamps EOQ as: 2,250units

Round all answers to nearest whole number (e.g. 1,355)

What is the number of orders? Answer: Answer

orders

What is the average inventory? Answer: Answer

units

Use your rounded figures from above to calculate the below, again round below to nearest whole number (e.g. 1,355)

What is the total carrying costs? Answer: $Answer

What is the total ordering costs? Answer: $