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ABC Company sells 3,307 chairs a year at an average price per chair of $144. The carrying cost per unit is $28.96. The company orders

ABC Company sells 3,307 chairs a year at an average price per chair of $144. The carrying cost per unit is $28.96. The company orders 500 chairs at a time and has a fixed order cost of $37 per order. The chairs are sold out before they are restocked. What is the economic order quantity?

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