Assignment:
The demand for a certain item is 16 units per period. Unsatisfied demand causes a shortage cost of Rs.0.75 per unit per short period. The cost of initiating purchasing action is Rs. 15.00 per purchase and the holding cost is 15% of average inventory valuation per period. Item cost is Rs. 8.00 per unit. Find the minimum cost and purchase quantity.
Your answer must be, typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.