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You purchase lubricating oil in 55 gallon drums and consume and average of 966 drums per year. Preparing an order and receiving a shipment of
You purchase lubricating oil in 55 gallon drums and consume and average of 966 drums per year. Preparing an order and receiving a shipment of lubricant costs $8.5 per order. Annual carrying costs are $53 per drum.
Determine the EOQ. (Keep two decimal places in your answer)
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