Question: 2 . On average, a firm has an 8 - week lead time for work - in - process, and annual cost of goods sold

2. On average, a firm has an 8-week lead time for work-in-process, and annual cost of goods sold is $10 million. Assuming that the firm operates 50 weeks per year:
a. What is the value of the work-in-process?
b. If the lead time could be reduced to 6 weeks, what would be the reduction in WIP?

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