Problem 1 An item has an annual demand of 10,000 units, annual unit carrying cost rate of 20%, order cost of $150, and unit purchase cost of $5. a) What is the EOQ and what is the annual order and carrying cost? b) How many times a year are orders placed, and what is the average time, in weeks, between orders? c) Using the answer from (b), if you round the average time between orders to the nearest week, what should the order quantity be? Would you recommend using this order quantity and time interval