A jewelry firm buys semiprecious stones to make bracelets and rings. The supplier quotes a price of $8.60 per stone for quantities of 600 stones or more, $9.00 per stone for orders of 400 to 599 stones, and $9.50 per stone for lesser quantities. The jewelry firm operates 115 days per year. Usage rate is 22 stones per day, and ordering costs are $53.
a. If carrying costs are $1 per year for each stone, find the order quantity that will minimize total annual cost. (Do not round intermediate calculations. Round your final answer to the nearest whole number.)
Order
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