What is total annual cost of managing

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Reference no: EM131797819

Adrian Coffee Shop uses 4 pounds of a specialty tea weekly; each pound costs $16. Carrying costs are $1 per pound per week because space is very scarce. It costs the firm $8 to prepare an order. Assume the basic EOQ model with no shortages applies. Assume 52 weeks per year, closed on Mondays. What is total annual cost (excluding item cost) of managing this item on a cost-minimizing basis?

Reference no: EM131797819

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