I. ACME Inc. produces cosmetics to sell to wholesalers. One of the raw materials it purchases is lavender hydrosol, bought at $22.50 per ton. ACME Inc.’s forecasts show an estimated requirement of 575,000 tons of lavender hydrosol for the coming year. The annual total carrying cost for this material is 40% of the unit price of acquisition, and the ordering cost is $595. The lead time is 30 days, and one year is 300 days.

Determine:

i. The economic order quantity.

ii. The number of orders to make per year.

iii. The order cycle time.

iv. The reorder level.

v. The total annual minimum inventory cost.