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The Woodstock Appliance Companycarries four products. The annual demandsfor these products rangefrom $300/year for a high-endvacuum cleaner to $30,000/year for a table fan. The order

The Woodstock Appliance Companycarries four products. The annual demandsfor these products rangefrom $300/year for a high-endvacuum cleaner to $30,000/year for a table fan. The order cost,holding cost, and purchase cost are known for each of the four products as well as how much space each product occupies. The numerical information is summarized in the following table. Woodstock stores inventory in its warehouse, which contains 12,000square feet that can be dedicated to any combination of the four products. The problem is to find the order quantities that minimize cost while respecting the limit on storage space. Please submit your Excel file with explanation.

Product1234Demand/yr.5,000 10,000 30,000 300 Order cost400 700 100 250 Holding Cost10%10%10%10%Purchase cost500 250 80 1,000 Space/unit12 25 5 20.

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