Economic ordering, average inventory and total cost inventory.
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A corporation is trying to improve its inventory control system and has installed an on-line computer at its retail stores. The company anticipates sales of 126,000 units per year, and ordering cost $4 per order and carrying costs of $1.008 per unit.
A. what is the economic ordering quantity?
b. how many orders will be placed during the year?
c. what will the average inventory be?
d. what is the total cost of inventory expected to be?
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The solution provides answers to questions on economic order quantities, average inventories and total costs of inventories.
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