Can you help me with number 6? I completed everything else but after May on the inventory balance my numbers aren't right and I don't know how to fix it.

MGT 364 - Operations Management Chapter 12 Case-Inventory Management Background Zhou Bicycle Company (ZBC), located in Seattle, is a wholesale distributor of bicycles and bicycle parts. Formed in 1981 by University of Washington Professor Yong-Pin Zhou, the firm's primary retail outlets are located within a 400 -mile radius of the distribution center. These retail outlets receive the order from ZBC within 2 days after notifying the distribution center, provided that the stock is available. However, if an order is not fulfilled by the company, no backorder is placed; the retailers arrange to get their shipment from other distributors, and ZBC loses that amount of business. The company distributes a wide variety of bicycles. The most popular model, and the major source of revenue to the company, is the AirWing. ZBC receives all the models from a single manufacturer in China, and shipment takes as long as 4 weeks from the time an order is placed. With the cost of communication, paperwork, and customs clearance included, ZBC estimates that each time an order is placed, it incurs a cost of $65. The purchase price paid by ZBC, per bicycle, is roughly 60% of the suggested Ihatail price for all the styles available, and the inventory carrying cost is 1% per month ( 12% per year) of the purchase price paid by ZBC. The retail price (paid by the customers) for the AirWing is $170 per bicycle. Stockouts cost $100 per unit. ZBC is interested in making an inventory plan for 2021 . The firm wants to maintain a 95% service level with its customers to minimize the losses on the lost orders. The data collected for the past 2 years are summarized in the following table. A forecast for AirWing model sales in 2021 has been developed and will be used to make an inventory plan for ZBC. Solution Requirements Utilize Microsoft Excel to complete the following steps. Submit the assignment in Excel for credit. No credit will be given for work submitted in another file format. Pay attention to formatting and clearly label all steps: Develop an annual inventory plan for to help ZBC by completing the following steps. 1. Calculate the economic order quantity for ZBC 's estimated demand. Hint: Have to convert the inventory carrying cost % to annual $ amount. 2. Determine how many times orders should be placed throughout the year. How often should orders be placed? Hint: assume 365 working days per year. 3. Calculate the reorder point, include safety stock. 4. Determine the total costs of inventory, including product costs. 5. Write a short paragraph or memo outlining the process that ZBC should follow with their inventory plan. 6. Trace the inventory balance over the course of the year. Assume a starting inventory balance of 35 bicycles. Also assume that retail orders are called into ZBC the first day of every month with the first order called in on January 4,2021 . Also, the first order to ZBC suppliers is submitted on January 4,2021 . What conclusions or recommendations do you draw from tracing the inventory? Hint: Take into consideration orders to suppliers and supplier lead time, orders from retailers and lead time in shipments to retailers, as well as the estimated time between orders to suppliers. Consider creating a table similar to the one below. Make sure to fill in dates, order quantities, and calculate the inventory balance. Step 1: Calculate the economic order quantity for ZBC s estimated demand Step 2: Determine how many times orders should be placed throughout the ye Step 4: Determine the total costs of inventory, including product costs. Step 6: Trace the inventory balance over the course of the year. Assume a starting inventory balance of 35 bicycles. Also assume that retail orders are called into ZBC the first day of every month with the first order called in on January 4, 2021. Also, the first order to ZBC supgliers is submittod nn lanuans ana