Question: Using the economic order quantity formula and the total cost formula, and given the following data, what is the EOQ, and total cost? Price =

Using the economic order quantity formula and the total cost formula, and given the following data, what is the EOQ, and total cost?
Price = $100
Demand =1,000
Ordering cost = $10
Interest =5%
Holding cost = $.50
Lag time =5 days

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