Instructions: Complete the following problem.

On the average, a company has a work$-$in$-$process lead time of $10$ weeks and annual cost of goods sold of $$30$ million. Assuming that the company works $50$ weeks a year:

What is the dollar value of the work$-$in$-$process?

If the work$-$in$-$process could be reduced to $5$ weeks and the annual cost of carrying inventory was $20\%$ of the Work in process inventory value, what would be the annual savings?

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