Cooper Company has average demand of 50 units per day. Lead time from the supplier averages 20 days. The combined standard deviation of demand during lead time is 20 units. The item costs $75 and inventory carrying cost is 24%. Answers to the next three questions are based on this information.1 standard deviation covers 84.13%1.04 standard deviations covers 85%1.28 standard deviations covers 90%1.65 standard deviations covers 95%1.96 standard deviations covers 97.5%2 standard deviations covers 97.72%2.33 standard deviations covers 99%3 standard deviations covers 99.86%6 standard deviations covers 99.99966%1. Suppose management decides it wants to offer a 95% service level. That is, Cooper Company is willing to experience a stock-out probability of 5% during the order cycle. How much safety stock should be carried?2. How much is the annual inventory carrying cost of the safety stock because of this decision?3. Suppose you tell management at Cooper Company (in the above two questions) it should raise safety stock to the six sigma level. If Cooper decides to do this, it will incur an additional inventory carrying cost of approximately how much?

Alpha company uses the periodic inventory system for purchase & sales of merchandise. discount terms for both purchases & sales are, 2/10, n30 and the gross method is used. unless otherwise noted, fob destination will apply to all purchases & sales. the value of inventory is based on periodic system. on january 1, 2016, beginning inventory consisted of 350 units of widgets costing $10 each. alpha prepares monthly income statements. the following events occurred during the month of jan.: dateactivitya. jan. 3purchased on account 350 widgets for $11 each. b.jan. 5sold on account 400 widgets for $30 each. paid freight out with petty cash of $150.c. jan. 10purchased on account 625 widgets for $12 each. d.jan. 11shipping cost for the january 10 purchased merchandise was $400 was paid with a cheque by alpha directly to the freight company. e.jan. 12returned 50 widgets received from jan. 10 purchase as they were not the correct item ordered. f.jan. 13paid for the purchases made on jan. 3.g. jan. 21sold on account 550 widgets for $30 each. paid freight out with petty cash of $250.h. jan. 22authorize credit without return of goods for 50 widgets sold on jan. 21 when customer advised that they were received in defective condition. i.jan. 25received payment for the sale made on jan. 5.j. jan. 26paid for the purchases made on jan. 10.k. jan. 31received payment for the sale made on jan. 21.use this information to prepare the general journal entries (without explanation) for the january events. if no entry is required then enter the date and write "no entry required."