Using a simplistic approach to inventory issues in order to demonstrate the rela

Using a simplistic approach to inventory issues in order to demonstrate the relationship between order cycles (replinishment) and inventory. There is no variation or uncertainity in demand.Please provide the steps needed tocalculatethe 5 items for each question with the answers to each.BASE DATA:Sales 40 units per dayOrder cycle time is 15 days (this is mean time)Order cycle max time is 21 days (this is part of the variance)Purchase price per unit is $27 (includes trans costs)Inventory carrying costs are 19%Question 1: Use Base Data to calculate the following 5 items:average cycle stocksafety stockaverage inventoryinventory investmentinventory carrying costsQuestion 2: Relative to the base data above reduce the cycle time by 3-days (no change in mean) and calculate the following 5 items:average cycle stocksafety stockaverage inventoryinventory investmentinventory carrying costsQuestion 3: Relative to base data aboveincrease the cycle time by 3-days (no change in mean) and calculate the following 5 items:average cycle stocksafety stockaverage inventoryinventory investmentinventory carrying costs