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A supervisor of inventory control in a diary product factory is generating a total inventory cost report for pasturized milk . He has the following

A supervisor of inventory control in a diary product factory is generating a total inventory cost report for pasturized milk . He has the following information: The price of pasturized milk is $15/gallon, the carrying cost percentage is 6%, the annual use is 700 gallon and the cost of placing an order is $300. It usually takes 10 days to get an order. (1 points)

(1) Find the Economic Order Quantity (EOQ)?

(2) What is the total costs (Minimized total costs)?

(3) reorder point(ROP)?

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