Math

the monthly demand for a part is 1050 units. The ordering cost is $70per order. The holding cost is $56 per unit per year, the part cost is $250 per unit. The order lead time is 9 days.

Assuming that the firm operates 365 days or 12 months per year, please calculate the following:

1. EOQ
2. Annual holding cost
3. Annual ordering cost
4. Annual total inventory cost
5. Reorder point

Extra credit:

1. Number of orders per year and time (in days) between orders.