Hi Tech Corporation (HTC) expects to order 295,000 memory chips for inventory during the coming...
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Hi Tech Corporation (HTC) expects to order 295,000 memory chips for inventory during the coming year, and it will use this inventory at a constant rate. Fixed ordering costs are $350 per order; the purchase price per chip is $32; and the firms inventory carrying costs is equal to 18 percent of the purchase price. What is the economic ordering quantity for chips? Enter your answer rounded to two decimal places. For example, if your answer is 12.345 then enter as 12.35 in the answer box.
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