let IBt Pt St Bt-1 Inventory at the end of a time period Inventory at the beginning of a time period Output (Production) during a time period. Sales during a time period. Backorders at the end of the prior time period. (There were no backorders at the end of the period preceding Q-I.) Quarter Sales Forecast (use this forecast for ALL problems). I. III. IV. 50 120 60 50 280 Use the spaces between the questions to write-in your answers, if the question asks you to do so. Follow all instructions exactly. Remember to submit a completed copy of the worksheet to support your answers to questions 2-5. (NOTE that Quarter 1 will be abbreviated as Q-I, Quarter 2 as Q-II, etc.) let = lot + Pt-St - Bt-1 AVG. INV. = (IEt + 1Bt)/2 let - IBt. Pt St Bt-1 Inventory at the end of a time period Inventory at the beginning of a time period Output (Production) during a time period. Sales during a time period. Backorders at the end of the prior time period. (There were no backorders at the end of the period preceding Q-1.) Quarter Sales Forecast (use this forecast for ALL problems). I. II. III. IV. 50 120 60 50 280 Use the spaces between the questions to write-in your answers, if the question asks you to do so. Follow all instructions exactly. Remember to submit a completed copy of the worksheet to support your answers to questions 2-5. (NOTE that Quarter 1 will be abbreviated as Q-I, Quarter 2 as Q-II, etc.) (NOTE: Question 1 is a stand-alone question and has nothing to do with the remaining questions. Do not use the worksheet for this problem. Show your work in the space provided.) 1. If the beginning inventory is 50 for Q-I, 70 units are produced during Q-1, and sales occur according to the forecast for Q-1, what is the average inventory for Q-I? (Show your calculations and CIRCLE your answer.)