there is not need to do it on excel

Question 3: a-Demand for racing cars from a toy shop that is open all year long is assumed to be constant at a rate of 40 cars per month. The cars cost 50 each, and ordering costs are approximately 15 per order, regardless of the order size. The annual holding cost rate is 15%. 1. Determine the economic order quantity and total annual cost under the assumption that no backorders are permitted. (20 marks) 2. Using a 15 as backorder cost, determine the minimum cost inventory policy and total annual cost for the model racing cars. (20 marks) 3. Would you recommend a no-backorder or a backorder inventory policy for this product? Explain. (15 marks) 4. Should the shortage policy be adopted if the management wants to add a constraint that no customer waits more than 15 days to receive his/her order? Explain (15 marks) 5. If the lead time is six days, what is the reorder point for both the no-backorder and backorder inventory policies? (10 marks)