Question: Q1: Given the following data for a particular inventory item: Usage Ordering Cost Carrying Cost Lead Time Price 500 Units/week $40 per order $0.01 per

Q1: Given the following data for a particular

Q1: Given the following data for a particular inventory item: Usage Ordering Cost Carrying Cost Lead Time Price 500 Units/week $40 per order $0.01 per unit per week 3 Wecks $ 50 per Unit a. What is the economic order quantity for this item? b. For the economic order quantity, what is the length of an order cycle? c. For the economic order quantity, what is the reorder point? d. For the economic order quantity, what is the average inventory level? e. For the economic order quantity, what are average weekly ordering costs? f. For the economic order quantity, what are average weekly carrying costs? g. For the economic order quantity, what are average weekly total costs, including the cost of the inventory item

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