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A manufacturing company. uses EOQ model to determine the order quantity for its various components and is planning its orders. The monthly demand is
A manufacturing company. uses EOQ model to determine the order quantity for its various components and is planning its orders. The monthly demand is 6,000 units, Cost to place one order is $1,200, Cost per unit is $40 and carrying cost is 50% of Unit cost. Find EOQ, Number of order per year, Ordering Cost and Carrying Cost and Total Cost of Inventory.
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