An audit senior at your place has requested you to undertake a review of the clients inventory system by determining the critical inventory levels, economic order quantity, cost of issues and valuation of closing inventory. The client file contains the following schedules in relation to inventory: Minimum Usage - 500 units per working week Maximum Usage - 3000 units per working week Average usage - 2500 units per week Lead time - 10 20 days Ordering costs - K260 per order Purchase cost - K5 per unit Holding cost - 8% of purchase costs per year Required (a) Calculate the following: (i) Inventory re-order level (2 marks) (ii) Minimum inventory level (2 marks) (iii) Economic order quantity (2 marks) (iv) Maximum inventory levels (2 marks)