Question 1 The following stores data relates to part no 8810x for October 2015. Using FIFI and LIFO method of pricing inventory enter the transactions into the stores ledger. Date 1/10 Receipts Purchase price (c). Issues 100 units@ 2.00 4.00 Balance 1/10 150 units 5/10 100 units 4.50 6/10 80 units 12/10 100 units 20/10 90 units 4.80 24/10 80 units Question 2 You are the warehouse manager for OLAM. The information that follows should help you determine your stock control levels. Annual Demand = 4000 Cost of material per unit = 50.00 Cost of placing and receiving one order = 40.00 Carrying and storage cost = 8% per annum of Inventory Value Further information given is Minimum consumption: 100 units per week each Maximum consumption: 150 units per week each Normal consumption: 120 units per week each Reorder quantity is the same as the Economic Order Quantity Reorder period: 4 to 6 weeks, Maximum reorder period for emergency purchases is 2 weeks respectively. You are required to calculate: a) Economic Order Quantity b) Reorder level c) Maximum Stock Level 6) Minimum Stock Level e) Average stock Level 2 | Page