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A company is planning for its financing needs and uses the basic fixed-order-quantity inventory model. Given an annual demand of 24,500, setup cost of $75,

A company is planning for its financing needs and uses the basic fixed-order-quantity inventory model. Given an annual demand of 24,500, setup cost of $75, a holding cost per unit per year of $11.5, cost per unit of inventory of $390, lead time = 11 days, and 1 year = 365 days, calculate:

i. Economic order quantity (EOQ)

ii. Total annual purchase (material) cost

iii. Total annual order (setup) cost

iv. Total annual holding cost

v. The total cost (TC) of the

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