Given the following information, formulate an inventory management system. The item is demanded $50$ weeks a year.

PARAMETER VALUE

Item cost $ $7\mathrm{.}00$

Order cost $ $243\mathrm{.}00$ per order

Annual holding cost $32\%$ of item cost

Annual demand $22,100$ units

Average weekly demand $442$ per week

Standard deviation of weekly demand $20$ units

Lead time $1$ week

Service probability $95\%$

Determine the order quantity and reorder point.