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Performing a monthly inventory count

Problem: An auto shop performs a monthly inventory count for auto parts it carries. Assume 30 days per month. Determine the number of auto parts that should be ordered using the following information:

Average daily demand: 20 units
Standard deviation of demand: 25 units/month
Desired service probability: 98%
Current inventory: 30 units
Lead time: 15 days

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Accounting Basics: Performing a monthly inventory count

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