***** Please answer question showing all work and correct formulas, please! Much appreciated *****

8. iBod begins a review of ordering policies for its continuous review system by checking the current policies for a sample of SKUs. Following are the characteristics of one item. Demand = 96 units/week (assume 50 weeks per year) Ordering cost = $45/ order Holding cost = $9/unit/year Lead time = 2 weeks Standard deviation of weekly demand = 10 units Cycle-service level = 88 percent a. What is the EOQ for this item? b. What is the desired safety stock? C. What is the reorder point? d. What are the cost implications if the current policy for this item is Q= 250 and Safety stock= 100? (Hint: compare the total annual inventory costs for previous and current policy). e. iBod decided to change to periodic review system to control the inventory. A recent review shows that the inventory for this item is 200 units. There were no scheduled receipts or backorders at the time. How many units should be ordered if today is the review day? (Hint: Calculate time between orders as the approximation of the time between reviews; expressed in weeks)