Which formula can be used to find the optimal economic order

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Reference no: EM133627952

Problem: Craftsman sells garden hoses. The demand for the hoses is constant at 1,000 per month. Craftsman incurs a fixed cost of $800 per order regardless of the number of units ordered. Annual holding cost is 30% of the purchase cost per unit of $20. The lead time from the supplier is 4 days. Assume 12 months and 365 days per year. Which formula can be used to find the optimal economic order quantity?

Reference no: EM133627952

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