Given the following list of items, a. Classify the items as A, B, or C. b. Determine
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a. Classify the items as A, B, or C.
b. Determine the economic order quantity for each item (round to the nearest wholeunit).
Economic order quantity (EOQ) is the ideal order quantity a company should purchase to minimize inventory costs such as holding costs, shortage costs, and order costs. This production-scheduling model was developed in 1913 by Ford W. Harris and has...
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