Please help with the following accounting problem:
An item has a setup cost of $100 and a weekly holding cost of $0.50 per unit. Given the following net requirements, what should the lot sizes be using lot-for-lot (L4L), economic order quantity (EOQ) and least total cost (LTC)? Also, what is the total cost associated with each lot-sizing technique?
Period (in weeks) 1 2 3 4 5 6 7 8 Total
Gross Requirement 10 30 10 50 20 40 50 30