Ordering Cost, Carrying Cost, and Total Inventory-Related Cost

Upton Company purchases 7,000 units of Product Beta each year in lots of 600 units per order. The cost of placing one order is $6, and the cost of carrying one unit of product in inventory for a year is $1.10.

Required:

1. How many orders for Beta does Upton place per year? Round your answer to the nearest whole number of orders, if rounding is required. Use rounded amount in subsequent requirements. fill in the blank 1 orders

2. What is the total ordering cost of Beta per year? Round your answer to the nearest dollar. $fill in the blank 2

3. What is the total carrying cost of Beta per year? Round your answer to the nearest dollar. Use rounded amount in subsequent requirements. $fill in the blank 3

4. What is the total cost of Upton's inventory policy for Beta per year? Round your answer to the nearest dollar. $fill in the blank 4