Determine the economic order quantity

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ISquare Inc. distributes math textbooks throughout the USA. The monthly demand is assumed to be normally distributed with mean is equal to 2,291 books and variance is equal to 1255 books2. ISquare pays $991 for ordering, $95 for each book, and yearly inventory holding cost is expected to be 24% per year. The company aims 99% customer service level in terms of product availability. Determine the economic order quantity. (Please round your answer to the closest integer)

Reference no: EM131736489

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