Just$-$in$-$Time Inventories Nevada Manufacturing Company uses the perpetual inventory system and plans to use raw material costing $$2,100,000$ in making its products. Nevada will operate its factory

$300$ days during the year. Currently, Nevada follows the just$-$in$-$case philosophy with its raw materi$$als inventory, keeping raw materials costing $$20,000$ in its raw materials inventory. Nevada 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 Nevada implements the just$-$in$-$time manufacturing philosophy.

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The JustinTime JIT manufacturing system aims to reduce costs by min... View the full answer