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Find and calculate the economic ordering quantity

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Reference no: EM132751522

Consider the following information regarding one of XYZ Company's most popular products, the FIFA endorsed football:

Total sales for 2019 ............................................... 10,000 footballs
Selling price per football ......................................... $70.00
Cost to carry one football in inventory for 2019 .............. $3.00
Cost to place an order with the football supplier ............. $13.50
Purchase cost of one football ....................................$38.00

Required:

Problem 1.) Calculate the economic ordering quantity (EOQ) for 2019 with respect to the footballs.

Problem 2.) Briefly explain what your answer from requirement #1 means.

Reference no: EM132751522

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