Riding Corporation manufactures and sells electric cars. Expected sales (in units) for the upcoming months of 2024
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Question:
Riding Corporation manufactures and sells electric cars.
Expected sales (in units) for the upcoming months of 2024 are as follows:
October | November | December
| |
Expected unit sales | 8,000 | 9,000 | 10,000 |
(1) The company has a policy that its ending inventory of completed cars need to be 20% of next month's sales. How many cars does the company need to produce in October and November?
(2) 3 pounds of raw material of silver are needed to produce each car. Ridings policy has always been to have enough raw material on hand at the end of the month to cover 10% of the next month's production requirements of raw material. How many pounds of silver should Riding plan on purchasing during the month of October? (Please provide step-by-step on how to drive the final answer; otherwise, no point will be given.)
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