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.
|a.||What is the EOQ for raspberry syrup??(Round up your answer to the next whole number.)|
|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.)|
|??Inventory turnover rate||?times per year??|
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