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Product X has a ticket price of $0.8 and a holding cost rate of 4% per week. The ordering costs are $4, and the weekly
Product X has a ticket price of $0.8 and a holding cost rate of 4% per week. The ordering costs are $4, and the weekly demand is 478 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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