Krazy Kitten Parties Company is a small, but growing party kit business, and is evaluating...
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Krazy Kitten Parties Company is a small, but growing party kit business, and is evaluating its inventory control system to report on costs.
Krazy Kitten Parties Companys sales for the past year were $210,000. Ordering costs are $99 per order and carrying costs for inventory are $3 per unit. The price of each kit is $30.
Required:
a) What is the economic order quantity?
b) How many orders will be placed during the year?
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