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ABC company makes 66 orders of chairs in a year and orders 16,758 chairs each time. The fixed order costs are $621.16 per order and
ABC company makes 66 orders of chairs in a year and orders 16,758 chairs each time. The fixed order costs are $621.16 per order and the carrying cost per unit is $29.54. The chairs are sold out before they are restocked. What are the shortage costs if the company orders the optimal quantity (Economic Order Quantity)?
Enter the answer rounded off to two decimal points.
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