Question: Economic Order Quantity (EOQ) and Inventory Management : Determine the EOQ for a company with annual demand of 15,000 units, ordering cost of $70 per

  1. Economic Order Quantity (EOQ) and Inventory Management: Determine the EOQ for a company with annual demand of 15,000 units, ordering cost of $70 per order, and carrying cost of $4 per unit per year. What is the EOQ, and how does it optimize inventory management? Discuss the implications of ordering more or less than the EOQ.

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