What is the approx. total cost a retailer would incur if it were to develop and follow an EOQ ordering policy for an air purifier it sells? Historical data shows that: D=1000 units/mo. Ordering coste $4000 ionder, each unit costs $500 and holding costs are 20% of the cost/unityr. (Hint: Compute EOQ first and use it to derive \# of orders/yr) EOQ=SqRt of (2DS)/H where D= annual demand, S= avg cost of placing an order, H= holding cost in 5 of keeping 1 unit of that SKU in atock for 1 year TC=TOC+THC $102,000 approx. $99000 approx. $94000 approx. $97000 approx