Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A local furniture store is examining it's inventory policy and considering using an economic order quantity (EOQ) approach for a popular table set that they
A local furniture store is examining it's inventory policy and considering using an economic order quantity (EOQ) approach for a popular table set that they have difficulty keeping in stock. They have the following information about the table set: Annual demand: 3,920 sets Current order quantity: 80 sets Carrying cost: $80.00/set/year Cost of table: 800.00 Order cost: $200. What is the economic order quantity *(EOQ)?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started