Just-in-Time Inventories Raymond Manufacturing Company uses the perpetual inventory system and plans to use raw materials costing $1,050,000 in manufacturing its products during 2012. Raymond will operate its factory 300 days during 2012. Currently, Raymond follows the just-in-case philosophy with its raw materials inventory, keeping raw materials costing $15,000 in its raw materials inventory. Raymond 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 Raymond implements the just-in-time manufacturing philosophy in its factory. Just in Time Inventories Raw Material used per day: $Answer 0 Raw material inventory