Question: In the basic EOQ model, if demand is 3000 per month, ordering cost is $200 per order, unit cost is $50, and holding cost per

In the basic EOQ model, if demand is 3000 per month, ordering cost is $200 per order, unit cost is $50, and holding cost per year as a fraction of unit cost is 5%.

What is the economic order quantity, optimal ordering frequency, cycle time (in months), and minimized total inventory cost? Then

what is the total inventory cost if the company makes an order every month? every year? (Show Work)

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