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Determine the minimum inventory cost

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Question - Demand for STICK disposable razors at Burnight Drugstore averages 7 packages per day. The razors cost Burnight 0.80 dollars per package and sell for 1.49 dollars. Burnight uses a 20% annual holding cost rate and estimates the cost to place an order for additional razors at 25 dollars. Burnight is open 365 days a year and desires a safety stock of 15 packages. The lead time for delivery is 5 days. Determine the minimum inventory cost (carrying cost + ordering cost).

Reference no: EM132857846

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