A corner store carries milk jugs with current and average information presented in the table below. The store follows a fixedperiod inventory system (FPS) to manage its carriage of milk jugs. The corner store is open 52 weeks per year and 7 days per week. Because milk is perishable, holding a jug for a month costs 70% of the item cost, or 840% per year.

Average demand	34 jugs per week
Lead time	4 days
Order cost	$15 per order
Unit cost	$1.6 for a jug
Annual inventory holding cost	840% for a year
Standard deviation of weekly demand	6 jugs per week
Desired service level with safety stock	90%
Current onhand inventory	23 jugs
Current scheduled receipts	0 jugs
Current backorders	0 jugs
Weeks of operation	52 weeks
Days of operation	7 days in a week

You would need to show equations, steps, and the final results with units for full credits. Time intervals and goods quantities are rounded up to whole numbers. You should work with a time unit of days, find average daily demand and standard deviation of daily demand, and scale up those daily measures to find necessary values. (a)[2] Find the Economic Order Quantity (EOQ). (Rounded up to a whole number) (b)[1] Based on part (a), find the time interval between reviews T in days. (Rounded up) (c)[1] Find the current inventory position (IP). (d)[3] Given that no safety stock is considered, find the replenishment level M(AD). Explain how this inventory system would operate. If today is the review day, what is the order quantity? Loosely sketch how the system would operate over time (movement of IP over time). (e)[3] Given that the corner store carries safety stock and aims for the desired service level, find the replenishment level M(ST). Explain how this inventory system would operate. If today is the review day, what is the order quantity? Loosely sketch how the system would operate over time (movement of IP over time).

v	0.80	0.85	0.90	0.95	0.99
z = NORM.S.INV(v)	0.84162	1.03643	1.28155	1.64485	2.32635