Under the ordering policy currently in use, what is the service level?

What is the reorder point R and associated safety stock level if we want to establish a 99% service level for this item?

If we were going to use a periodic review (P, T) system for this item, what target inventory level T would be used to establish a 99% service level? What is the safety stock?

Inventory System Problem Parameters Daily demand for an an inventory item is normally distributed with average value of 34 units per day The standard deviation of daily demand is 4 The item is used 365 days per year We buy the item for $90 per unit Each time we order, we incur fixed ordering costs of $175 per order Our annual carrying cost rate is 25% When we order replenishment inventory, the order lead time is 6 days The ordering policy currently being used is: Whenever inventory position falls to R=230 units, an order is placed for Q=660 units