4. Harun's shop buys cement in 50-pound bags. The shop purchases an average of 6075 bags a year. Preparing an order and receiving a shipment of cement involves a cost of $4 per order. Annual carrying costs are 50% of the average carried inventory. To purchase the required cement, Harun has to spend $75 per bag. He asks for your suggestion to keep the inventory cost to the minimum level. (5) a) Determine the economic order quantity. b) What is the average number of bags in hand if he follows your suggestion? c) How many orders per year will there be in that case? d) What is the order cycle if the bakery operates 290 days a year? e) Compute the total cost of ordering and carrying cement.