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Question 5 (a) Mango Mania's annual demand for mangos, costing $8.00 per kg, is 180,000 kg. Inventory management costs for mangos are as follows: Holding cost: Ordering cost: $1.20 per kg per year $50.00 per order It's mango supplier has offered a bulk discount of 3% for orders above 20,000kg. However, this would mean Mango Mania's requiring a bigger storage facility and would increase the annual holding cost to $1.60 per kg. Required: i) Calculate the total cost of inventory for the mangos when using the economic order quantity. Round the EOQ units to the closest whole number. (5 marks) ii) Determine whether accepting the discount offered by the supplier will minimise the total cost of inventory. State the decision to be made. (5 marks) (b) Mango Mania's gross profit margin is approximately 40%, and the opportunity cost of capital is 15%. The company wishes to expand to selling to businesses, who pay on credit. Therefore, there is the plan to grant special credit terms to its new customers. The following information relates to new customers only: Bad debts percentage Collection period 2% 45 days Assume there are 360 days in each year. The projected incremental annual sales for the new business customers is $700,000. Should credit be extended to the new customers? Show your workings clearly. (7 marks) (c) Critically discuss how increasing credit terms benefit a business during the COVID recession and what are the disadvantages of doing so? (8 marks)