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Question 5 The following information is available for plastic grade RX3 Annual demand-225,000 kgs Annual holding cost per kilogram - 0.50 . Fixed ordering cost - 2.50 (a) Calculate Economic Order Quantity for RX3. BIRMINGHAM CITY University International College (4 marks) The inventory record shown below for plastic grade RX3 for the month of November has only been fully completed for the first three weeks of the month. Complete the entries in the inventory record for the two receipts on 21st and 25th November that were ordered using the economic ordered quantity (EOQ). (b) Complete oh entries in the inventory record for the two issues in the month and for the closing balance at the end of November using AVCO method of issuing inventory. (8 marks) (c) Complete oh entries in the inventory record for the two issues in the month and for the closing balance at the end of November using FIFO method of issuing inventory. Inventory record for plastic grade RX3 (8 marks) (Total marks 20) Receipts Issues Balance Date Qty Cost per kg Total cost (kg) Qty Cost per kg Total cost (kg) Qty Total cost (kg) Balance 20 Nov 150 240 21 Nov 1.616 22 Nov 1,000 25 Nov 1.620 30 Nov 1,800