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What is Novelty Gifts` current total annual inventory cost

05 / 03 / 2018 Assignment

This paper circulates around the core theme of What is Novelty Gifts` current total annual inventory cost together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 45. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.

Novelty Gifts, Inc. is experiencing some inventory control problems. The manager, Wanda LaRue, currently orders 5,000 units four times each year to handle annual demand of 20,000 units. Each order costs $15 and each unit costs $1.50 to carry. Ms. LaRue maintains a safety stock of 200 units.

a) What is Novelty Gifts’ current total annual inventory cost?

b) Calculate the economic ordering quantity (EOQ).

c) What is average inventory under EOQ if Ms. LaRue maintains a safety stock of 200 units.

d) Calculate total annual inventory cost under EOQ.


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