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. 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. Print Done - X Data table 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. = Number of orders orders per year Requirement 3. Calculate the reorder point for denim cloth. Determine the formula used to calculate the reorder point for denim cloth, then calculate the reorder point. Reorder point yards Annual demand for denim cloth Ordering cost per purchase order Carrying cost per year 20,000 yards $180 Safety-stock requirements 20% of purchase costs None Cost of denim cloth $8 per yard The purchasing lead time is 2 weeks. The Grand Cloth Shop is open 250 days a year (50 weeks for 5 days a week). Print Done