Question 5 2/ 2 pte Ray wishes to determine the optimal order quantity for its best-selling bike in his bike store. Ray pays the supplier a wholesale price of $87 each for this bike. Ray has estimated the average daily demand for this bike is 12 units. The store opens 305 days a year. The cost to carry one bike in the store for a whole year is 8% of the unit bike cost. Ray has estimated that, on average, the order processing cost, i.e., ordering cost, with the bike supplier each time is $167, and it roughly takes 20 working days to receive the order from the supplier. Ray wishes to avoid the stock-out situation with a probability of 95%, and this requires Ray to carry a safety stock of 30 bikes in the store. What is the optimal order quantity (EOQ value) that Ray should order each time from the bike supplier to minimize his long-run inventory cost? Numbers only, keep 3-decimal if not exact, either round up or down is ok. 419.092 iwer 419.092 margin of error +/- 0.001