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Product X has a ticket price of $ 0 . 8 and a holding cost rate of 3 % per week. The ordering costs are

Product X has a ticket price of $0.8 and a holding cost rate of 3% per week. The ordering costs are $4, and the weekly demand is 396 units. Determine the economic order quantity and then the total inventory costs (i.e., ordering costs + holding costs) per year (i.e., assume that a year has 50 weeks).

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