Question: Problem 2 (Multi-Period Inventory- EOQ Model) (3 points) Gentle Ben's Bar and Restaurant uses 6000 quart bottles of an imported wine each year. The effervescent
Problem 2 (Multi-Period Inventory- EOQ Model) (3 points) Gentle Ben's Bar and Restaurant uses 6000 quart bottles of an imported wine each year. The effervescent wine costs $4 per bottle and is served only in whole bottles because it loses its bubbles quickly. Gentle Ben figures that the ordering costs are $10 per order, and holding costs are 20% of the value of the wine (i.e., 20% of the wine cost per bottle) What is your recommended Economic Order Quantity for Gentle Ben to order (so that the total annual costs, including ordering and inventory holding costs, are minimized)? Note: The calculation process is required to support your recommended quantity
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