Question: Problem 11-15 (Static) Given the following information, formulate an inventory management system. The item is demanded 50 weeks a year. a. Determine the order quantity

Problem 11-15 (Static) Given the following information, formulate an inventory management system. The item is demanded 50 weeks a year. a. Determine the

Problem 11-15 (Static) Given the following information, formulate an inventory management system. The item is demanded 50 weeks a year. a. Determine the order quantity and reorder point. (Use Excel's NORM.S.INV() function to find the z value. Round z value to 2 decimal places and final answer to the nearest whole number.) b. Determine the annual holding and order costs. (Round intermediate calculations to 2 decimal places. Round your answers to 2 decimal places.) c. Assume a price break of $50 per order was offered for purchase quantities of 2,000 or more units per order. If you took advantage of this price break, how much would you save annually? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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