Solved: Calculating min-max inventory control levels, Accounting Basics

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Calculating min-max inventory control levels

Problem:

Is there a simple equation or way in which to determine what the minimum and maximum inventory levels should be in a hypothetical warehouse? What information must be known in order to determine the Kmin and Kmax inventory levels?

Is the determination if min/max inventory levels at all like determining the upper and lower control limits in statistics?

Please assist ....I want a good simple explanation and equation about calculating min/max inventory control levels?

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Accounting Basics: Calculating min-max inventory control levels

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