Rahmania Company's economic order quantity for an inventory item is 5,000 units and it maintains a safety stock of 500 units. Rahmania receives delivery of inventory item within 18 days of placing order, while it places a new order every 6 days. What is Rahmania's orders in transit for the inventory. 16,500 units 9,000 units 15,000 units 30,000 units By installing a lockbox system, a firm has brought its collection float down to 4 days from the previous 7 days. The firm's daily collection is Tk.40,000 and its opportunity cost is 8% per year. What is the firm's annual savings resulting from the reduction in collection float. Tk.22,400 Tk.12,800. Tk.9,600 Tk.3,200 The ultimate objective of setting credit policy is to Ensure prompt and timely collection Increase sales and make more profit. Retaliate against default customer Retain customers for future.