EOQ is used to:

Question

EOQ is used to:

Quizplus · Accepted Answer

EOQ, or Economic Order Quantity, is a formula used to find the optimal quantity of inventory to order in order to minimize total inventory costs, which includes both carrying costs (costs associated with holding inventory, such as storage and handling) and ordering costs (costs associated with placing and receiving an order, such as labor and communication costs). The goal of EOQ is to find the point at which these two costs are balanced and total inventory costs are minimized. Therefore, the correct answer is C: Balance carrying costs and ordering costs of inventory.

EOQ Is Used To