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You have been asked to help with inventory management of bulk items at a local grocery. The owner let you know that they are selling
You have been asked to help with inventory management of bulk items at a local grocery. The owner let you know that they are selling white rice at a rate of 15 pounds per week and brown rice at a rate of 10 pounds per week. Assume that the demand for both is constant with no uncertainty. The owner has computed the ordering cost for either item as $20 per order. They pay their supplier $0.8 per pound of white rice and $0.9 per pound of brown rice. The holding cost rate is 20% per dollar per year
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