A sports shop sells 100 pairs of running shoes per month, or 1 200 in...
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A sports shop sells 100 pairs of running shoes per month, or 1 200 in a year, and each pair sells for $45. The total time spent by all involved in the order placement is one hour and based on average salary and benefit costs, the cost for placing each order is $50. The carrying cost is $3 per pair which covers storage and insurance costs. You are required to calculate the economic order quantity (EOQ). [10] b)
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