Suppose there is no beginning inventory find out how to

Reference no: EM13395655

During the next four months, a customer requires, respectively, 500, 650, 1000, and 700 units of a commodity, and no backlogging is allowed (that is, the customer's requirements must be met on time.) Production costs are $50, $80, $40, and $70 per unit during these months. The storage cost from one month to the next is $20 per unit (assessed on ending inventory). It is estimated that each unit on hand at the end of month 4 can be sold for $60. Assume there is no beginning inventory.

a. Determine how to minimize the net cost incurred I meeting the demands for the next four months.

Reference no: EM13395655

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