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Where calculations are needed to arrive at the answer be sure to show the calculations or describe it in detail with words. If you know

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Where calculations are needed to arrive at the answer be sure to show the calculations or describe it in detail with words. If you know how to enter equations do that. If not, then describe in text the calculation you used to get your answer. EOQ = SqRoot of [(2 x F x S) (C x P)] TIC - (orders x F) + (Avg Inv x PxC) (The following information applies to the next six problems.) 1. Rice Farmers Inc. expects to order 10,000 Weather Chips into its inventory during the coming year, and it will use this inventory at a constant rate. Fixed ordering costs are $610 per order, the purchase price per chip is $15.60; and the firm's inventory carrying costs is equal to 12.50% of the purchase price. I (Assume a 360-day year.) What is the economic ordering quantity for Weather Chips? A

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