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The demand for a certain item is random. It has been estimated that monthly demand of the item has a normal distribution with a mean

The demand for a certain item is random. It has been
estimated that monthly demand of the item has a normal
distribution with a mean of 780 units. The unit price of the
item is Rs.25. ordering cost is Rs.28 and the inventory
carrying cost is estimated to be 35 per cent year. Determine
(a) EOQ, (b) Total inventory cost with EOQ
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