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A company purchases a spare part from its suppliers @ 60 per unit. Annual requirements are 1,600 units. The following further information are available -

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A company purchases a spare part from its suppliers @ 60 per unit. Annual requirements are 1,600 units. The following further information are available - Cost of one procurement *100 Tax, insurance, rent etc, per unit per annum * 2 Annual return on investment Find out : (a) Economic Order Quantity; and (b) Time gap between two consecutive orders. 10%

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