Meyer Stores carries a specialty line of flavored syrups. One of the most popular of these is
Question:
Meyer Stores carries a specialty line of flavored syrups. One of the most popular of these is raspberry syrup which sells, on average, 30 bottles per week. Meyer’s cost is $8 per bottle. Meyer has determined its order cost to be $50 and inventory carrying cost is 20%. Meyer is open for business 52 weeks per year. What is the EOQ for raspberry syrup? If Meyer orders the EOQ quantity each time, what will be the inventory turnover rate for raspberry syrup?
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Annual demand 30 units x 52 weeks 1560 units EOQ 31225 ...View the full answer
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ISBN: 978-0078024030
2nd edition
Authors: Morgan Swink, Steven Melnyk, Bixby Cooper, Janet Hartley
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