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FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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PLEASE ANSWER THE REQUIRED 1,2,3,4,5 

Problem 10: Order Point Irvin Corp has developed the following figures to assist in controlling one of the Material: Minimum daily use Normal daily use Maximum daily use Working days per year Lead time in working days Safety stock Cost of placing an order EOQ Required: Compute the following: 1. Safety Stock 2. Order Point 3. Average inventory 4. Normal maximum inventory 5. Absolute maximum inventory 6. Carrying cost per unit for one year. 300 units 400 units 460 units 250 days 10 ? units P80 4,000 units
Transcribed Image Text:Problem 10: Order Point Irvin Corp has developed the following figures to assist in controlling one of the Material: Minimum daily use Normal daily use Maximum daily use Working days per year Lead time in working days Safety stock Cost of placing an order EOQ Required: Compute the following: 1. Safety Stock 2. Order Point 3. Average inventory 4. Normal maximum inventory 5. Absolute maximum inventory 6. Carrying cost per unit for one year. 300 units 400 units 460 units 250 days 10 ? units P80 4,000 units
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