Please solve the following inventory problems using materials from the textbook and reading assignments as a reference.

3-1) If your lead time is 8 days and you consume 6 items per day, what is your cycle stock inventory?

3-2) If your lead time is 6 days and you consume 6 items per day, what is your minimum reorder point (also known as order quantity) in units?

3-3) If your lead time is 8 days and you consume 6 items per day, what is your average cycle stock inventory in units?

3-4) If your lead time is 10 days and you consume 8 items per day and if you reduce your lead time by 20-percent, what will your average cycle stock inventory be in units?

3-5) If your normal lead time is 10 days and you consume on average of 4 items per day, how much safety stock must you have on hand if your demand is variable and you run out in 4 days?

3-6) If your normal lead time is 8 days and you consume on average of 6 items per day, how much safety stock must you have on hand if your lead time is variable and it takes you 14 days to replenish your inventory?

3-7) If your normal lead time is 8 days and you consume on average of 6 items per day, how much safety stock must you have on hand if your demand and lead time are variable? Your demand is consumed in 6 days and it takes you 10 days to replenish your inventory?

3-8) Using the information in problem 1 and problem 7, what is your total inventory (cycle stock + safety stock)?

3-9) Find the economic order quantity given the following: Annual demand = 20,000 units; set-up or ordering cost = $150; Annual inventory carrying cost = 25%; cost of the product = $25/unit