Question: Funeral Inc., produces and sells pine and mahogany coffins to mortuaries. Demand is high and cons…

Funeral Inc., produces and sells pine and mahogany coffins to
mortuaries. Demand is high and constant at 6,000 pine coffins and
12,000 mahogany coffins annually. An average coffin is comprised of
15 board feet of wood. Funeral Inc buys both types of wood from a
single supplier.

James, the head of purchasing, has heard that you are an expert
at determining lowest cost inventory replenishment policies and has
asked for your help. He estimates the ordering cost to be $42 and
the inventory holding cost to be

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