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9. Company XYZ specializes in selling scented candles. The company has established a policy of reordering inventory every 20 days (assume 360 days a year).
9. Company XYZ specializes in selling scented candles. The company has established a policy of reordering inventory every 20 days (assume 360 days a year). The company currently considers adopting EOQ model in its inventory management. If the following constitute the relevant data, what is the current total inventory cost (TIC)? How does the current TIC compare with the TIC under the optimal policy with EOQ model?
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