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Example 1 Juno Limited purchases 800 school bags at R60 each per annum. The bags are sold at R80 each at a steady rate

Example 1 Juno Limited purchases 800 school bags at R60 each per annum. The bags are sold at R80 each at a steady rate during the year. The cost of placing a single order amounts to R20,25. Inventory holding cost amounts to R4 per unit. Calculate the economic order quantity.

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