Petrov plc sells 10,000 tonnes of sand each year and demand is constant over time. The purchase
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Petrov plc sells 10,000 tonnes of sand each year and demand is constant over time. The purchase cost of each tonne is £15 and the cost of placing and handling an order is estimated to be £32. The cost of holding 1 tonne of sand for one year is estimated to be £4. The business uses the EOQ model to determine the appropriate order quantity and holds no buffer inventories.
Calculate the total annual cost of trading in this product.
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The total annual cost will be made up of three elements The cost of purc...View the full answer
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