1. A retailer manages the inventory based on a continuous review system with the order quantity Q = 50, and the reorder point = 20. The lead time is two days without uncertainty. At the end of day 0, the inventory position = on-hand inventory = 50. The demand in the following five days is 7, 8, 5, 9, and 6, respectively. What is the inventory position at the end of day 5?

   		40
   		65
   		15
   		50