2. Clips, Inc. budgets on an annual basis for its fiscal year. The company produces widgets using the raw material, oximate. The following beginning and ending inventory levels are planned for the fiscal year ending June 30, 2017: Oximate Widgets July 1, 2017 40.000 pounds 80,000 units June 30, 2018 36,000 pounds 50,000 units Three pounds of oximate are needed to produce each widget. If Clips plans to se 480,000 widgets during the year ending lune 30, 2018, how many widgets will it need to produce during the year