Q2. A supervisor of inventory control in a supermarket is generating a total inventory cost report for frozen apples. He/she has the following information: The price of apples is $8/bag, the carrying cost percentageis 30%, the annual useis 2000 bags and the cost of placing an orderis $400. (5 points)

Find the Economic Order Quantity (EOQ) (2 points)

What is the total inventory costs (Minimized Total Costs)? (3 point)