Problem 20-15 Given the following information, formulate an inventory management system. The item is demanded 50 weeks a year. Item cost Order coat Annual holding cont () Annual demand Average demand $ 7.00 101.00 34 of ten cost 27.800 556 per week Standard deviation of veekly demand tad tine Service probability 20 per week 3 week(s) 999 a. Determine the order quantity and reorder point. (Use Excel's NORMSINV() function to find your z-value and then round that 2- value to 2 decimal places. Do not round any other intermediate calculations, Round your final answers to the nearest whole number.) Optimal order quantity Reorder point units b. Determine the annual holding and order costs. (Do not round any intermediate calculations. Round your final answers to 2 decimal places.) Holding cost Ordering cost Optimal order quantity Reorder point units une b. Determine the annual holding and order costs. (Do not round any intermediate calculations. Round your final answers to 2 decimal places) Holding con Ordering cost c. Assume a price break of $55 per order was offered for purchase quantities of 2100 units per order if you took advantage of this price break, how much would you save annually? (Do not round any intermediate calculations (including number of setups per year). Round your final answer to 2 decimal places.) Annuating