Inventory management A large law firm uses an average of 40 boxes of copier paper a day. The firm operates 260 days a year, e.g., 52 weeks with 5 working days. Storage an are $30 a year per box, and it costs approximately $60 to order and receive a shipment of paper. Answer the following questions. Include arguments and computations. a) What order size (rounded) would minimize the sum of annual ordering and carrying costs? Compute the minimum total annual costs associated with this order size. b) For which order sizes is the total annual cost less than 10% extra above the minimum total annual costs. In reality, the daily demand is normally distributed with a standard deviation of 10 boxes of paper a day. After you placed an order, it takes 5 days for t lead time is 5 days. c) You want to ensure that the firm does not run out of stock in 95% of the time. Determine when, at which inventory level, you should plac