A local furniture store is examining its inventory policy and considering using an economic order quantity (EOQ) approach for a popular table set that they have had difficulty keeping in stock. They have the following information about the table set: 
a.What is the current total annual cost (TC)?
b.What is the EOQ?
c.What is the total annual cost at the EOQ?
Definitions:
Secondary Circular Reaction
A stage in Piaget's theory of cognitive development where infants repeat actions that are pleasurable or produce interesting results, typically occurring from 4 to 8 months of age.
Primary Circular Reaction
An early developmental stage where infants repeat an action that they accidentally discovered, focusing on their own body.
Tertiary Circular Reaction
A stage in Piaget's theory of cognitive development during which toddlers experiment with new behaviors to see the outcomes, typically observed around 12 to 18 months of age.
Invention
The creation of a new device, method, or process, developed from study and experimentation.
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