Can you assist with the following:
ABC Company sells 2,564 chairs a year at an average price per chair of $147. The carrying cost per unit is $27.46. The company orders 500 chairs at a time and has a fixed order cost of $81 per order. The chairs are sold out before they are restocked. What is the economic order quantity?
ABC Company sells 3,063 chairs a year at an average price per chair of $195. The carrying cost per unit is $27.9. The company orders 239 chairs at a time and has a fixed order cost of $55.2 per order. The chairs are sold out before they are restocked. What are the total carrying costs?