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 $4,2021.$