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Myer stores carries a specialty line of flavored syrups. One of the most popular of these is a raspberry syrup which sells on average, 55 bottles per week. Myers cost is nine dollars per bottle. Meyer has determined it’s order cost to be $54 an inventory caring cost is 20%. Myers open for business 52 weeks per year. What is the EOQ for raspberry syrup? (Whole Number) If Meyer orders the EOQ quantity each time, what will be the inventory turnover rate for raspberry syrup? (Roun

Myer stores carries a specialty line of flavored syrups. One of the most popular of these is a raspberry syrup which sells on average, 55 bottles per week. Myers cost is nine dollars per bottle. Meyer has determined it’s order cost to be $54 an inventory caring cost is 20%. Myers open for business 52 weeks per year. What is the EOQ for raspberry syrup? (Whole Number) If Meyer orders the EOQ quantity each time, what will be the inventory turnover rate for raspberry syrup? (Roun

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Myer stores carries a specialty line of flavored syrups. One of the most popular of these is a raspberry syrup which sells on average, 55 bottles per week. Myers cost is nine dollars per bottle. Meyer has determined it’s order cost to be $54 an inventory caring cost is 20%. Myers open for business 52 weeks per year. What is the EOQ for raspberry syrup? (Whole Number) If Meyer orders the EOQ quantity each time, what will be the inventory turnover rate for raspberry syrup? (Round your answer to 2 decimal spaces)
Saved Help Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate complet Problem 7-12 (Algo) Meyer Stores carries a specialty line of flavored syrups. One of the most popular of these is raspberry syrup which sells, on average, 55 bottles per week. Meyer's cost is $9 per bottle. Meyer has determined its order cost to be $54 and inventory carrying cost is 20 percent. Meyer is open for business 52 weeks per year. a. What is the EOQ for raspberry syrup? (Round up your answer to the next whole number.) X Answer is complete but not entirely correct. EOQ 11 X units b. If Meyer orders the EOQ quantity each time, what will be the inventory turnover rate for raspberry syrup? (Hint Inventory turnover = Annual sales in units / Average inventory in units.) (Round your answer to 2 decimal places.) X Answer is complete but not entirely correct. Inventory turnover rate 33.65 X times per year Prev 1 of 3 Next >
Transcribed Image Text:Saved Help Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate complet Problem 7-12 (Algo) Meyer Stores carries a specialty line of flavored syrups. One of the most popular of these is raspberry syrup which sells, on average, 55 bottles per week. Meyer's cost is $9 per bottle. Meyer has determined its order cost to be $54 and inventory carrying cost is 20 percent. Meyer is open for business 52 weeks per year. a. What is the EOQ for raspberry syrup? (Round up your answer to the next whole number.) X Answer is complete but not entirely correct. EOQ 11 X units b. If Meyer orders the EOQ quantity each time, what will be the inventory turnover rate for raspberry syrup? (Hint Inventory turnover = Annual sales in units / Average inventory in units.) (Round your answer to 2 decimal places.) X Answer is complete but not entirely correct. Inventory turnover rate 33.65 X times per year Prev 1 of 3 Next >
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