M11.1 The Cullowhee Apparel Company purchases its material from Sylva Clothing Suppliers, Inc. The Cullowhee Apparel Company uses 26,880 yards of material to produce its clothing line. The cost of ordering material from Sylva Clothing Suppliers, Inc is $175 per order. The cost of each yard of material is $4.25 and the inventory carrying cost is estimated to be 17% of the cost of each yard. Furthermore, it takes about two weeks for an order to arrive from the Sylva Clothing Suppliers, Inc, and the Cullowhee Apparel Company operates 48 weeks per year. a) What is the annual ordering cost? b) What is the annual holding cost? c) How many orders (on average) would be placed per year? d) What is the average inventory? e) What is the reorder point? f) What is the EOQ?