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A bakery uses 6 0 bags of flour each month. The flour is purchased from a supplier for a price of $ 8 0 per

A bakery uses 60 bags of flour each month. The flour is purchased from a supplier for a price of $80 per bag and an ordering cost of $20 per order. The bakerys annual inventory holding cost percentage is 40%. If the bakery chooses to use the economic order quantity for flour purchases, what will be the total of its holding and ordering costs per year?
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