Post Utme Bowen University 2024 Commerce Question 36
Practice objective / multiple choice question 36 from the 2024 Post Utme Bowen 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: Q = √(2DS/H), where Q is the optimal order quantity, D is the annual demand, S is the ordering cost per order, and H is the holding cost per unit. If the annual demand is 10,000 units, the ordering cost per order is ₦500, and the holding cost per unit is ₦20, calculate the optimal order quantity.
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This is Post Utme Bowen University 2024 Commerce Question 36. It is one of the objective questions from the 2024 Post Utme Bowen University Commerce examination.
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