Condensed financial data are presented below for the Phoenix Corporation:

2019 2018
Accounts receivable 267,500 $ 230,000
Inventory 312,500 257,500
Total current assets 670,000 565,000
Intangible assets 50,000 60,000
Total assets 825,000 695,000
Current liabilities 252,500 200,000
Long-term liabilities 77,500 75,000
Sales 1,640,000
Cost of goods sold 982,500
Interest expense 10,000
Income tax expense 77,500
Net income 127,500
Cash flow from operations 71,000
Cash flow from investing activities (6,000 )
Cash flow from financing activities (62,500 )
Tax rate 30 %

The profit margin used to calculate return on assets, operating margin, recivable turnover, return on equty and quick ratio for 2019 is

The inventory turnover for 2019 is (rounded):

Ardmore farm and seed has an inventory dilemma. they have been selling a brand of very popular insect spray for the past year. they have never really analyzed the costs incurred from ordering and holding the inventory and currently fave a large stock of the insecticide in the warehouse. they estimate that it costs $25 to place an order, and it costs $0.25 per gallon to hold the spray. the annual requirements total 80,000 gallons for a 365 day year. a. assuming that 10,000 gallons are ordered each time an order is placed, estimate the annual inventory costs. b. calculate the eoq. c. given the eoq calculated in part b., how many orders should be placed and what is the average inventory balance? d. if it takes seven days to receive an order from suppliers, at what inventory level should ardmore place another order?