Metlock, Inc. took a physical inventory on December 31 and determined that goods costing $230,000 were on hand. Not included in the physical count were $32,000 of goods purchased from Whispering Winds Corp., FOB, shipping point, and $24,500 of goods sold to Coronado Industries for $32,000, FOB destination. Both the Whispering Winds purchase and the Coronado sale were in transit at year-end. What amount should Metlock report as its December 31 inventory

cranium, inc., purchases term papers from an overseas supplier under a continuous review system. the average demand for a popular mode is 300 units a day with a standard deviation of 30 units a day. it costs $60 to process each order and there is a five−day lead−time. the holding cost for a paper is $0.25 per year and the company policy is to maintain a 98% service level. cranium operates 200 days per year. what is the reorder point r to satisfy a 98% cycleminus−service level? a. greater than 1,700 unitsb. greater than 1,600 units but less than or equal to 1,700 unitsc. greater than 1,500 units but less than or equal to 1,600 unitsd. less than or equal to 1,500 units