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What is the estimated economic order quantity

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A creamery purchases three different types of cheese: panela cheese at $3.75 per pound, goat cheese at $7.10 per pound, and Oaxaca cheese at $4.50 per pound. The daily demand for each cheese is 45, 22, and 63 pounds respectively. The creamery has a dedicated supplier for each type of cheese, and the ordering cost is $2.00 per order. It is expensive to keep these products in inventory because they are highly perishable. The holding cost is estimated to be 0.5% of the purchasing price for each type of cheese.

What is the estimated economic order quantity for the goat cheese?

Reference no: EM132481258

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