Given the following information, formulate an inventory management system. The item is demanded 50 weeks a year. Item cost Order cost Annual holding cost (%) Annual demand Average demand Optimal order quantity Reorder point $ 11.00 $257.00 32 26,900 538 /order % of item cost units /week Holding cost Ordering cost a. Determine the order quantity and reorder point. (Use Excel's NORMSINV() function to find your z-value and then round that z- value to 2 decimal places. Do not round any other intermediate calculations. Round your final answers to the nearest whole number.) Standard deviation of weekly demand Lead time Service probability units units 30 units 1 week 90% b. Determine the annual holding and order costs. (Do not round any intermediate calculations. Round your final answers to 2 decimal places.)

. Determine the order quantity and reorder point. (Use Excel's NORMSINV() function to find your z-value and then round that value to 2 decimal places. Do not round any other intermediate calculations. Round your final answers to the nearest whole number) b. Determine the annual holding and order costs. (Do not round any intermediate calculations. Round your final answers to 2 decimal places.)