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You own a clothing store that sells sweaters for $45 each, You avoid the EOQ method, and instead, you place orders 7 times per year.

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You own a clothing store that sells sweaters for $45 each, You avoid the EOQ method, and instead, you place orders 7 times per year. Demand is 100 sweaters per month, ordering costs are $50, and annual carrying costs are $3.00 per sweater. a) What is the total annual cost using the EOQ method (6 points)? b) What is the total annual cost not using the EOQ method (6 points)? c) What is the total cost difference between the two methods (2 points)

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