FIU bookstore is attempting to determine the optimal order quantity for a popular book on...
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Accounting
FIU bookstore is attempting to determine the optimal order quantity for a popular book on English. The store sells 20,000 copies of this book a year at a retail price of $30.00, and the cost to the store is 20% less, which represents the discount from the publisher. The store figures it costs $2.00 per year to carry a book in inventory and $200 to prepare an order for the books.
What is the economic order quantity?
What is the total inventory costs if the bookstore orders 5 times a year?
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