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A company purchases wood for use in its products. The firm uses 700 pounds of wood per week and purchases wood for $2.5 per pound
A company purchases wood for use in its products. The firm uses 700 pounds of wood per week and purchases wood for $2.5 per pound from a supplier. Each time the firm orders wood from the supplier, the firm must pay an order processing charge of $63. The firm's annual holding cost percentage is 22%. If the company orders 2,700 pounds of wood with each order, what is the sum of the annual holding and ordering costs
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