Question: For a product satisfying Economic Order Quantity (EOQ) model assumptions, the annual demand is 12000 units, the purchase cost is $40/unit and the inventory holding

For a product satisfying Economic Order Quantity (EOQ) model assumptions, the annual demand is 12000 units, the purchase cost is $40/unit and the inventory holding cost per unit per year is 20% of the purchase cost. The ordering cost is $500 per order.

c. What is the corresponding time between orders with the above order quantity?

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