List and discuss the five inventory classifications.Cycle, or base, stock$-$ Refers to inventory that is needed to satisfy normaldemand during the course of an order cycle Safety, or buffer, stock$-$ Refers to inventory that is held in addition to cyclestock to guard against uncertainty in demand or leadtime Pipeline, or in$-$transit, stock$-$ Inventory that is en route between various fixed facilities in a logistics system such as a plant, warehouse, or store Speculative stock$-$ Refers to inventory that is held for several reasons, including seasonal demand, projected price increases, and potential shortages of a product Psychic stock $-$ Inventory carried to stimulate demand $($retail$)$