A company begins a review of ordering policies for its continuous review system by checking the current policies for a sample of items. Following are the characteristics of the item: Demand = 320 units/month Ordering cost = $240/order Holding cost = $2/unit/year Lead time = 2 months Standard deviation of monthly demand = 25 units Cycle-service level = 95% a). What is the EOQ for this item? b). What is the required safety stock to meet the cycle-service level? c). What is the reorder point?

b). What is the required safety stock to meet the cycle-service level? c). What is the reorder point?

c). What is the reorder point?

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