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You are using the simplex method to solve the following linear programming problem.Maximize Z = 6x1 + 5x2 - x3 + 4x4,subject to 3x1 + 2x2 - 3x3 + x4 ≤ 120 3x1 + 3x2 + x3 + 3x4 ≤ 180 and x1 ≥ 0,x2 ≥ 0,x3 ≥ 0,x4 ≥ 0.You have obtained the following final simplex tableau where x5 and x6 are the slack variables for the respective constraints. Use the fundamental insight presented in Sec.5.3 of the textbook to identify Z*,
,and
.
FIFO
An inventory valuation method which assumes that the first goods purchased or produced are also the first ones sold, also known as "First In, First Out."
Ending Inventory
The worth of products ready for purchase at the close of a financial period.
Cost Flow Assumption
The method used by businesses to value inventory and calculate the cost of goods sold, based on the order in which products are bought or produced.
FIFO
"First In, First Out," an inventory valuation method where the oldest stock is sold first.
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