Find the optimal order quantity for this item under the order point (or Q, R) ordering system.

Based on your answer to the previous question, what should we use as the time between orders (in days) if we were going to use a periodic review (P, T) system for this item?

note: i added one picture by mistake but you should be Using the information on the "Inventory System Problem"

Inventory Analysis Problem Seppa Firm Income Statement FY 2020 Net Sales $ 700,000 Cost of goods sold $ 480,000 Gross profit $ 220,000 Operating expenses $ 73,000 Net income S 147,000 Seppa Firm Quarterly Balance Sheet FY 2020 1st Quarter Cash $ 31,000 $ Accounts receivable $ 10,700$ 2nd Quarter 37,000 $ 13,100 $ 3rd Quarter 38,000 $ 18,800 $ 4th Quarter 36,000 15,200 Inventory Finished goods Work in process Materials $ $ $ 9,000 $ 6,300 $ 6,500 $ 9,500 $ 7,000 $ 7,300 $ 8,400 $ 5,300 $ 6,200 $ 10,600 5,300 8,000 Plant assets $ 500,000 $ 510,000 $ 500,000 $ 510,000 The company operates 52 weeks every year Inventory System Problem Parameters Daily demand for an an inventory item is normally distributed with average value of 47 units per day The standard deviation of daily demand is 3 The item is used 365 days per year We buy the item for $70 per unit Each time we order, we incur fixed ordering costs of $125 per order Our annual carrying cost rate is 25% When we order replenishment inventory, the order lead time is 6 days The ordering policy currently being used is: Whenever inventory position falls to R = 300 units, an order is placed for Q = 740 units