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Calculate the economic order quantity for ABC Corporation using the following data: Annual Demand (units) Ordering Cost per Order ($) Holding Cost per Unit ($)

Calculate the economic order quantity for ABC Corporation using the following data:
Annual Demand (units) Ordering Cost per Order ($) Holding Cost per Unit ($)
1,000 $200 $2
Requirements:
Determine the economic order quantity.
Present the calculation in a detailed table format.
Discuss the significance of EOQ in inventory management.

Annual Demand (units)	Ordering Cost per Order ($)	Holding Cost per Unit ($)
1,000	$200	$2

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