Lopez Chemical Inc. requires 20,000 gallons of material annually; the cost of placing an order is $20; the annual carrying cost per gallon is $5.

Required:

Determine the EOQ from potential order sizes of 300, 400, 500, 600, 700, and 800 gallons by completing the table below. If required, round answers to the nearest whole number and use that rounded number in subsequent calculations.

Order Size	Number of Orders	Total Order Cost	Average Inventory	Total Carrying Cost	Total Order & C. C.
300		$		$	$
400
500
600
700
800