Product X has a ticket price of $1.5 and a holding cost rate of 3% per week. The ordering costs are $2, and the weekly demand is 433 units. 

Determine the economic order quantity and then the total inventory costs (i.e., ordering costs holding costs) per year (i.e., assume that a year has 50 weeks). Round your answer to an integer amount, but do not round intermediate answers

Answer rating: 100% (QA)

Calculating Economic Order Quantity EOQ We can use the EOQ formula to find the optimal order quantity EOQ sqrt 2 Demand Ordering Cost Holding Cost Rat... View the full answer