Post Utme Al Hikmah University 2021 Commerce Question 6
Practice objective / multiple choice question 6 from the 2021 Post Utme Al Hikmah University Commerce examination.
A company's inventory management system uses the Economic Order Quantity (EOQ) model to determine the optimal order quantity. The EOQ model is given by the formula: EOQ = √(2DS/H), where D is the annual demand, S is the ordering cost, and H is the holding cost. If the annual demand is 10,000 units, the ordering cost is ₦50 per order, and the holding cost is ₦5 per unit per year, what is the optimal order quantity?
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This is Post Utme Al Hikmah University 2021 Commerce Question 6. It is one of the objective questions from the 2021 Post Utme Al Hikmah University Commerce examination.
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