1) (6 points) A retailer consistently sells about 800 products per month. Each order has a setup cost of $400, a lead time of 3 days and the annual holding cost is $3 per unit. Calculate: a) The EOQ,Q; b) The inventory cost, IC; c) The average inventory level; d) The number of orders per year; e) and the ROP, assuming the retailer is open 300 days per year. f) In a sentence at the bottom of the page that convinces me you understand what all the results below mean, describe what the optimal inventorty control policy is for this product; i.e., answer the standard inventory question - How much, and when? using the results from a) through e). 1) (6 points) A retailer consistently sells about 800 products per month. Each order has a setup cost of $400, a lead time of 3 days and the annual holding cost is $3 per unit. Calculate: a) The EOQ,Q; b) The inventory cost, IC; c) The average inventory level; d) The number of orders per year; e) and the ROP, assuming the retailer is open 300 days per year. f) In a sentence at the bottom of the page that convinces me you understand what all the results below mean, describe what the optimal inventorty control policy is for this product; i.e., answer the standard inventory question - How much, and when? using the results from a) through e)