Question: 2. (This Question addresses CLO2) Task 1 The following information is available in respect of material No. 001 Re-order quantity = 1500 units Re-order period = 4 to 6 weeks Maximum consumption=400 units per week Normal consumption=300 units per week Minimum consumption=250 units per week Calculate: 1. Re-order level 2. Minimum level 3. Maximum level and; 4. Average stock level. [2 marks] Task 2: Calculate Economic Order Quantity from the following information: Annual consumption 100,000 units Ordering cost OMR 50 per order Carrying cost 8% of average stock Cost per unit OMR.20 (1.5 Marks Task 3 Prepare a Stores Ledger Account for the month of January 2021 under: 1. LIFO Method. 2. FIFO 3. Simple' Average Price Method. Receipts dated Quantity Price Issues dated Quanting 1-1-2021 800 units 25 per unit 3-1-2021 1,000 units 19-1-2021 1,000 units 23 per unit 11-1-2021 800 units 31-1-2021 400 units 21 per unit 23-1-2021 600 units 25-1-2021 200 units 31-1-2021 200 units On 1st January, 2021, opening stock was 1,250 units at OMR 27 per unit