Given the following information, formulate an inventory management system. The item is demanded 50 weeks a year. Item cost Order cost Annual holding cost (%) Annual demand Average demand $ 10.00 $ 227.00 32 % of item cost 24,300 486 per week Standard deviation of weekly demand Lead time Service probability 20 per week 3 weeks 90 % a. Determine the order quantity and reorder point. (Use Excel's NORMSINV() function to find the correct critical value for the given a-level. Do not round Intermediate calculations. Round "2" value to 2 decimal places and final answer to the nearest whole number.) units Optimal order quantity Reorder point units b. Determine the annual holding and order costs. (Round your answers to 2 decimal places.) $ Holding cost Ordering cost $ c. Assume a price break of $60 per order was offered for purchase quantities of 2,100 or more units per order. If you took advantage of this price break, how much would you save annually? (Round your answer to 2 decimal places.) Annual savings S