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How much will Buffalo save using the EOQ

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Question - Buffalo Ltd. uses 3,240 metres of fine gage brass each year. Brass wire costs $12 per metre, ordering costs are $47 per order, and carrying costs are $2.35 per metre. Currently, Buffalo orders 600 metres in each order. Is this the most economical order size? If not, what is the economic order quantity? How much will Buffalo save using the EOQ?

Reference no: EM132927939

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