Please submit answer using "FORMULATEXT" in excel. This helps me to better understand the assingment. Q$1$: A North Face retail store in Chicago sells $500$ jackets each month. Each jacket costs the store Your Course ID$*$ $$10$ and the

company has an annual holding cost of $30$ percent. The fixed cost of a replenishment order $($including transportation$)$ is $$400.$ The

store currently places a replenishment order every month for $500$ jackets.

What is the annual holding and ordering cost?

On average, how long does a jacket spend in inventory?

If the retail store wants to minimize ordering and holding cost, what order size do you recommend?

How much would the optimal order reduce holding and ordering cost relative to the current policy?