Question 3 (10 points) The optimal EOQ occurs where annual ordering costs are equal to annual carrying costs True False Question 4 (10 points) Total carrying cost equalsL the average carrying cost per item times the average level of inventory the average carrying cost per item times the minimum level of inventory the average carrying cost per item times the maximum level of inventory the average carrying cost per item times the average level of inventory divided by 2 Question 5 (10 points)