Problem 11-13 (Algo) Dunstreet's Department Store would like to develop an inventory ordering policy with a 98 percent probability of not stocking out. To illustrate your recommended procedure, use as an example the ordering policy for white percale sheets, Skopped Demand for white percale sheets is 4,700 per year. The store is open 365 days per year. Every four weeks (28 days) inventory is counted and a new order is placed. It takes 7 days for the sheets to be delivered. Standard deviation of demand for the sheets is five per day. There are currently 140 sheets on-hand. Book Hrd How many sheets should you order? (Use Excel's NORM.S.INV() function to find the z value. Do not round intermediate calculations. Round z value to 2 decimal places and final answer to the nearest whole number.) Pent Meterences Number of sheets 3 Item X is a standard item stocked in a company's inventory of component parts. Each year the firm, on a random basis, uses about 1,500 of item X, which costs $25 each. Storage costs, which include insurance and cost of capital, amount to $5 per unit of average inventory. Every time an order is placed for more of item X, it costs $6. 6. Whenever Item X is ordered, what should the order size be? (Round your answer to the nearest whole number.) Order size b. What is the annual cost for ordering item X? (Round your answer to 2 decimal places. Round your intermediate calculation.) Ordering cost c. What is the annual cost for storing item X? (Round your answer to 2 decimal places. Round your intermediate calculation.) Holding cost pints Skipped ebook Pont References