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Lee just opens the gift store in Glassboro. He purchases cards from Hall Marks for $10 for each box. Lee's gift store expects to sell
Lee just opens the gift store in Glassboro. He purchases cards from Hall Marks for $10 for each box. Lee's gift store expects to sell 10 boxes of cards a week. Lee's store estimates it cost them $5.00 to place an order and holding cost is about 20% of purchase cost per box. It usually takes 5 days to get each order because of its high demand. [Note: This question is Economic Order Quantity model (EOQ)-related problem] What is the average inventory (find the nearest value)
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