What is economic order quantity to buy each time

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A particular raw material is available to a company at three different prices, depending on the size of the order: Less than 100 pounds $ 20 per pound 100 pounds to 1,999 pounds $ 19 per pound 2,000 pounds or more $ 18 per pound The cost to place an order is $60. Annual demand is 4,200 units. Holding (or carrying) cost is 30 percent of the material price. What is the economic order quantity to buy each time, and its total cost? (Round your answers to the nearest whole number.)

Reference no: EM131639513

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