CLICK HERE TO REVIEW LEARNING OBJECTIVES QUESTION 13 Incorrect Mark 0.00 out of 2.00 Flag question Just-in-Time inventories Raymond Manufacturing Company uses the perpetual inventory system and plans to use raw materials costing $900,000 in manufacturing its products. Raymond will operate its factors 300 days during the year. Currently, Raymond follows the just-in-case philosophy with its raw materials inventory, keeping raw materials costing $12,000 in its raw materials inventory. Raymond plans to switch to the just-in-time manufacturing philosophy by keeping only the raw materials needed for the next two days of production. Calculate the new raw materials inventory level after Raymond implements the just-in-time manufacturing philosophy in its factory. Just in Time Inventories Raw Material used per day:S Raw material inventory level: s ox Check