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Product X has a ticket price of $ 1 . 4 and a holding cost rate of 1 % per week. The ordering costs are

Product X has a ticket price of $1.4 and a holding cost rate of 1% per week. The ordering costs are $2, and the weekly demand is 379 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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