Question: ( 6 ) A retailer uses continuous review method to manage its inventory. A certain product has a daily demand of 2 5 units; the

(6) A retailer uses continuous review method to manage its inventory. A certain product has a daily demand of 25 units; the retailer operates the store 360 days a year. The purchase price of the product is $40; holding cost is determined to be 15% of cost. Ordering cost is determined to be $93.4. Do/answer the following.

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