## Answered: - Problem 7-12 Meyer Stores carries a specialty line of flavored

Problem 7-12

 Meyer Stores carries a specialty line of flavored syrups. One of the most popular of these is raspberry syrup which sells, on average, 25 bottles per week. Meyer?s cost is \$6 per bottle. Meyer has determined its order cost to be \$54 and inventory carrying cost is 20 percent. Meyer is open for business 52 weeks per year.

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 a. What is the EOQ for raspberry syrup??(Round up your answer to the next whole number.)

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 ??EOQ ?units ?

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 b. If Meyer orders the EOQ quantity each time, what will be the inventory turnover rate for raspberry syrup? (Hint: Inventory turnover = Annual sales in units / Average inventory in units.)?(Round your answer to 2 decimal places.)

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 ??Inventory turnover rate ?times per year??

rev: 10_23_2013_QC_37630

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