Which of the following cost elements are considered while determining the Economic Lot Size for purchase? 1. Inventory carrying cost 2. Procurement cost 3. Set up cost. Select the correct answer using the codes given below:

Which of the following cost elements are considered while determining

1.	Which of the following cost elements are considered while determining the Economic Lot Size for purchase? 1. Inventory carrying cost 2. Procurement cost 3. Set up cost. Select the correct answer using the codes given below:
A.	1, 2 and 3
B.	1 and 2
C.	2 and 3
D.	1 and 3
Answer» C. 2 and 3

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Which of the following cost elements are considered while determining the Economic Lot Size for purchase? 1. Inventory carrying cost 2. Procurement cost 3. Set up cost. Select the correct answer using the codes given below:

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