The celebrated EOQ model solves the trade-off between ordering and inventory holding expenses minimizing total costs and assuming that the cost of capital, which contributes to the inventory holding cost, is exogenous to operations. Rather than minimizing total costs, we first set the problem as to maximize the value of the firm for shareholders, but keep all the original EOQ assumptions constant. To do so, we make use of some financial tools for valuation of firms. We find that the EOQ is inconsistent, because it lacks two relevant terms, even if no additional assumptions to the original EOQ were made. We then define a Modified EOQ, or M-EOQ, that corrects this inconsistency. Next, we consider that the cost of capital is partially endogenous to operations and derive a new formula, wich we term the Value Order Quantity (VOQ). This VOQ takes into account the manager's financial policies to pay for inventory and to repay for debt. We find that, by and large, the VOQ is different from the EOQ (or the M-EOQ) when shareholders risk is taken into consideration. We extend our study to account for trade credit and price discounts. The approach stated here may have a significant economic impact on industries such as the retail industry, where margins are thin and inventories represent a sizeable part of the total assets of the firm.