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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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