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Problem 2 (10 points): Consider a firm selling non-perishable products. The table below shows the evolution of the firm's inventory related actions over 4 periods.

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Problem 2 (10 points): Consider a firm selling non-perishable products. The table below shows the evolution of the firm's inventory related actions over 4 periods. In period 1, the firm orders 35 units, thus the quantity ordered is 35. 25 customers want to buy the product. In period 2, the firm orders 45 units and 65 customers want to buy the product, etc. Unsatisfied demand is backordered. Assume that there were no inventory on hand at the beginning of period 1 and no previous backorders. Fill in the table below. Period Quantity On-hand ordered (start) 1 35 35 2 45 3 5 4 100 Quantity sold Quantity sold On-hand Net Demand (backorders) (new demand) (end) Backorders inventory 25 0 65 15 40 Table 2: Inventory related actions

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