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Nowlin Pipe & Steel has projected sales of 72,000 pipes this year, an ordering cost of $6 per order, and carrying costs of $2.40 per

Nowlin Pipe & Steel has projected sales of 72,000 pipes this year, an ordering cost of $6 per order, and carrying costs of $2.40 per pipe.

  1. What is the economic ordering quantity?
  2. How many orders will be placed during the year?
  3. What will the average inventory be?

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