Use the economic order quantity formula to work out

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A film processing laboratory uses 37.5 liters of developer per week and is open for business 50 weeks in a year. Administrative and other costs of ordering a consignment of developer are $15 and it costs $10 to keep one liter of developer in stock for a year. Use the Economic Order Quantity formula to work out how much developer should be ordered each time they need to replenish their stock.

Reference no: EM131005217

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