(Steps Shown) A manufacturer of automobiles plans on using 20,000 widgets in the assembly process over the next year. The firm buys widgets from a supplier
Question: A manufacturer of automobiles plans on using 20,000 widgets in the assembly process over the next year. The firm buys widgets from a supplier who charges $50 for each lot of widgets delivered. Assume that the firm uses widgets at a constant rate throughout the year.
If the cost of carrying inventories of widgets is 8 cents per unit, than what size lots of widgets should the firm order from its supplier? What is the optimal level of inventory?
Deliverable: Word Document 
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