Al Manar company is setting up a material control system to reduce inventory costs. The...
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Accounting
Al Manar company is setting up a material control system to reduce inventory costs. The company manufactures 5,000 units of a product per month. The cost of placing an order is OMR 100. The purchase price of the raw material is OMR 10 per kg. The average consumption of raw material is 275 units per week. The storage cost of inventory is 20% per annum. Calculate EOQ.
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