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Product X has a ticket price of $ 0 . 9 and a holding cost rate of 2 % per week. The ordering costs are

Product X has a ticket price of $0.9 and a holding cost rate of 2% per week. The ordering costs are $1, and the weekly demand is 317 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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