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1. Michael's Mechanical sells 6,000 jettison machines annually. Each machine costs Michael's $2000 to purchase, inventory carrying...

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Finance

1. Michael's Mechanical sells 6,000 jettison machinesannually. Each machine costs Michael's $2000 to purchase, inventorycarrying costs are 30% of the purchase price, and the cost ofplacing an order with its supplier is $120. (a) What is the EOQ?(b) What is the total inventory cost at the EOQ?

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1. Michael's Mechanical sells 6,000 jettison machinesannually. Each machine costs Michael's $2000 to purchase, inventorycarrying costs are 30% of the purchase price, and the cost ofplacing an order with its supplier is $120. (a) What is the EOQ?(b) What is the total inventory cost at the EOQ?

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