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Softa [21]
3 years ago
9

15 stores and their distribution warehouse. The Paint Supply Store franchise sells an average of 70 gallons of Purple Paint ever

y week (for 52 weeks per year). Their current policy is that when they place an order for Purple Paint from their supplier, they order 90 gallons at a price of $4.00 per gallon. [The company does not hold Safety Stock] It takes 2.50 weeks to receive an order from the supplier. Administrative costs for Ordering paint have been estimated to be $35 per order. Holding Costs = 40% of the purchase price per gallon per year. What is the Total Annual Inventory Cost for the company's current policy?
Business
1 answer:
erastova [34]3 years ago
4 0

Answer: $1,487.56

Explanation:

Total annual inventory cost = Ordering cost + Inventory Holding cost

Ordering cost = Number of orders * ordering cost

= (Annual demand / Order quantity) * 35

= ((52 weeks per year * 70) / 90) * 35

= $1,415.56

Inventory holding cost:

= Average inventory * holding cost

= (90 gallons / 2) * (40% * 4)

= $72

Total annual inventory cost = 1,415.56 + 36

= $1,487.56

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