(Solved): A manufacturer has a production facility that requires 15,920 units of component JY21 per year. Fol ...

A manufacturer has a production facility that requires 15,920 units of component JY21 per year. Following a long-term contract, the manufacturer purchases component JY21 from a supplier with a lead time of 11 days. The unit purchase cost is \( \$ 18.1 \) per unit. The cost to place and process an order from the supplier is \( \$ 186 \) per order. The unit inventory carrying cost per year is \( 18.5 \) percent of the unit purchase cost. The manufacturer operates 250 days a year. Assume EOQ model is appropriate. If the manufacturer uses a constant order quantity of 2,602 units per order, what is the annual inventory cost? Use at least 4 decimal places.