Technology Corporation expects to order 126,000 memory chips for inventory during the coming year, and it will use this inventory at a constant rate. Fixed ordering costs are $225 per order; the purchase price per chip is $25; and the firms inventory carrying costs is equal to 20 percent of the purchase price. (Assume a 360-day year.) What is the economic ordering quantity for chips? Enter your answer rounded to two decimal places. For example, if your answer is 12.345 then enter as 12.35 in the answer box.

Use the data from the problem above. If the lead time for placing an order is 7 days, and Technology Corporation holds a safety stock equal to a 30-day supply of chips, then at what inventory level should an order be placed? Enter your answer rounded to two decimal places. For example, if your answer is 12.345 then enter as 12.35 in the answer box.