Define economic order quantity (eoq)and graphically deduce the formula for eoqand total inventory cost. Production department of a company requires 3600 kg of raw material for manufacturing a particular item per year. It has been estimated that the cost of placing an order is rs. 36 and the cost of carrying inventory is 25% of the investment on inventories. The cost is rs. 10 per kg. Find the eoqand total inventory cost.
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The total inventary cost is ₹10000
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