The ideal quantity of an item to purchase is referred to as the Economic Order Quantity (EOQ).

Name: The ideal quantity of an item to purchase is referred to as the Economic Order Quantity (EOQ).
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The statement is true. EOQ is the quantity of an item that a company should order to minimize its inventory costs. It considers factors such as demand, ordering costs, and carrying costs to determine the optimal purchase quantity.

The Ideal Quantity of an Item to Purchase Is Referred