The Grand Cloth Shop sells fabrics to a wide range of industrial and consumer users. One of the products it carries is denim cloth, used in the manufacture of jeans and carrying bags. The supplier for the denim cloth pays all incoming freight. No incoming inspection of the denim is necessary because the supplier has a track record of delivering high-quality merchandise. The purchasing officer of the Grand Cloth Shop has collected the following information: (Click the icon to view the information.) Read the requirements. Requirement 1. Calculate the EOQ for denim cloth. Begin by selecting the formula used to calculate EOQ. (D = Demand in units for one year, P = Ordering cost per purchase order, C = Carrying cost of one unit in stock, Q = Any order quantity.) (Round the denominator to the nearest cent.) The EOQ for denim cloth is yards. Requirement 2. Calculate the number of orders that will be placed each year. Determine the formula used to calculate the number of orders that will be placed each year, then calculate the orders per year. Requirement 3. Calculate the reorder point for denim cloth. = Number of orders orders per year Determine the formula used to calculate the reorder point for denim cloth, then calculate the reorder point. = Reorder point = yards Requirements 1. Calculate the EOQ for denim cloth. 2. Calculate the number of orders that will be placed each year. 3. Calculate the reorder point for denim cloth.