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Question - Longroad Traders is one of the largest truck dealers in Kalgoorlie and sells about 2,800 recreational vehicles a year. The cost of placing an order with Longroad Traders' supplier is $800, and the inventory-carrying costs are $150 for each truck. The company likes to maintain safety stock of 12 trucks. Most of their sales are either in spring or the summer.
Required -
(a) What is the economic order quality (EOQ)?
(b) How many orders will the company need to place this year?
(C) What is the total inventory cost
(d) Give three examples of opportunity costs that are typically not recorded in accounting systems, although they are relevant when using the EOQ model.
(e) Outline some of the issues with the assumptions associated with EOQ.
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