Question: Question 3: (10 marks) a. Define the reorder level and identify the information required to work out the right reorder level. (Marks: 4] b. Explain

Question 3: (10 marks) a. Define the reorder level and identify

Question 3: (10 marks) a. Define the reorder level and identify the information required to work out the right reorder level. (Marks: 4] b. Explain the difference between accounting costs and economic costs. Name only two types of costs that cause the difference. [Marks: 6]

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