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A market named Econland expects to sell 2,000 boxes of shoes in the upcoming week at...

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Basic Math

A market named Econland expects to sell 2,000 boxes of shoes inthe upcoming week at a steady rate. The cost of placing an orderwith the manufacturer is $50. Carrying costs, based on the averagenumber of boxes in stock are $8 per box per week. Storage costs,based on the maximum number of boxes in the warehouse, are $6 perbox per week. Determine the economic order quantity that minimizesthe inventory cost.

Answer & Explanation Solved by verified expert
4.0 Ratings (593 Votes)
By given data Weekly demand quantity is 2000 boxes of shoes Cost placing on an order is 50 Carrying cost of the boxes in stock is 8 per box per per week Lastly storage cost of those boxes are 6 per week Firstly lets consider    See Answer
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