It is the policy of OAK Nig Plc to purchase 500units of inventory each time it places an order. It always cost the firm a total sum of N500 to place an order and N25 for safe-keeping each unit of inventory in the warehouse. On average basis, the firm make use of 5,000units in a year.
As the new cost accountant of OAK Nig Plc, comment on its present policy and advice the management on the appropriate units of inventory to order per time.
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