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The demand by Samano Manufacturing Company for a material item is 24000 units every six months. The item costs $160 per unit, and the annual

The demand by Samano Manufacturing Company for a material item is 24000 units every six months. The item costs $160 per unit, and the annual holding cost is 12% of the purchase cost per year. The cost of placing an order for the item is $500. What is the economic order quantity for material item (to the nearest unit).

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