5. Inventory For each description presented in the following table, identify the corresponding type of inventory. Description Inventory Type The cooked hamburgers and french fries stacked under the heat lamps at a McDonald's V - Work-in-process restaurant are examples of this inventory. - Finished goods .-.lRaw'materials V In an automobile plant, this inventory includes the engines, wheel and tire assemblies, and dashboards waiting to be installed in new cars. Read the following brief case study and answer the questions that follow it. v CASE STUDY I Brad Leong, Danny Fukuba, and Sam Gordon are the inventors of the Oona, a stand that allows people to position their smartphones in almost endless congurations. The Gone is made of aircraft-grade aluminum, with suction cups of low shore durometer silicone. Designed to utilize all the functions of a smartphone, the Oona is easily moved from place to place, attaching to surfaces from car Windshields to tripods. After designing the product, the three inventors raised money for their first production run on Kickstarter, an online funding platform for inventors. When pledges closed, the company had raised $131,220 from 3,915 backersthe eighth highest amount in Kickstarter's history. Then the hard work of manufacturing large volumes of the Oona began. Brad, Danny, and Sam contracted with one manufacturer to create the aluminum body and base of the Gone and another to create the product's suction cups. After working out quality issues with several product samples, the inventors authorized a manufacturing run based on the initial Oona orders. (Source: 8., L., D., F., & G., G. (July 26, 2011). Kickstarter. In The Dana: Whatever you need it to be. Retrieved from http://www.kickstarter.com/projects/oona/the-oona-whatever-you-need-it-to-be/posts)(Source: D., G. (accessed July 2011). How 5 unheard of products rocked the market: A stand for a smartphone. Inc. Retrieved from http://www.inc.comiss/how-5-unheard-products-rocked-market#5) If the manufacturers chosen by Brad, Danny, and Sam use a specic algorithm to identify how much and how often inventory should be ordered, they are likely to be using: 0 A just-in-time inventory system 0 An average aggregate inventory system 0 A materials requirement planning system 0 An economic order quantity system This inventory system will help reduce the costs associated with determining when and how much new inventory should be purchased; that is, it will --stockout- I Miav reduce the company s _ ordering cost. --setup