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7: The total relevant cost of holding inventory in a plant for purchased materials is given TRC = (6000/Q) (60) + 0.30(12) + 6000(12), where

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7: The total relevant cost of holding inventory in a plant for purchased materials is given TRC = (6000/Q) (60) + 0.30(12) + 6000(12), where Q=economic order quantity. Determine the optimum order quantity and the corresponding total relevant cost (TRC)

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