(EOQ calculations) A downtown bookstore is trying to determine the optimal order quantity for a popular novel just printed in paperback. The store feels that the book will sell afour times its hardback figures. It would, therefore, sell approximately 4,000 copies in the next year at a price of $1.50. The store buys the book at a wholesale figure of $1.Costs for carrying the book are estimated at $0.10 a copy per year, and it costs $20 to order more books.a. Determine the EOQ.b. What would be the total costs for ordering the books 1, 4, 5, 10, and 15 times a year?c. What questionable assumptions are being made by the EOQ model?a. What is the economic order quantity (EOQ)?copies (Round to the nearest whole number.)GULD

Find the Given details below:Find the Calculations below:Assumptions: The EOQ model makes several assumptions that may be questionable in certain contexts:Constant Demand: The EOQ model assumes that demand is constant and known with certainty. However, in reality, demand can fluctuate due to various factors such as seasonality, market trends, and economic conditions.Instantaneous Replenishment: The model assumes that as soon as an order is placed, the inventory is immediately replenished. This is rarely the case in real-world scenarios where there is usually a lead time for delivery.Constant Costs: The model assumes that ordering and holding costs are constant. However, these costs can vary due to factors such as quantity discounts, inflation, and changes in storage conditions.No Stockouts: The EOQ model assumes that there are no stockouts, i.e., the inventory level never falls below zero. However, in reality, stockouts can occur due to unexpected surges in demand or delays in replenishment.One Product: The model assumes that only one product is being considered. However, in reality, companies often have to manage multiple products with interrelated demands and costs.Find the answers below: EOQ: 1265Total cost: 220