Please show the steps/calculations along with the answers.Question 1: You look at your most recent financial statements where you find the data below. Using this data calculation the following:(1) inventory turnover rateGOGS 3 600 000Average Inventory 300 000Question 2:Based on the data below calculate the following:(1) total annual order cost(2) total annual inventory carrying costNumber of orders per year: 12Average Inventory (units): 8 572Order Cost: $1 500Value per Unit $35Carrying cost 15%Question 3:Based on Question 2 the organization is currently operating at the EOQ?True or False?
