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After reading the attached document consult secondary available data on internet and answer the following questions. Question: Why Companies adopted Lean Thinking and JIT model? Discuss major types of Waste, companies has to keep in mind during production. Assess the…

What effect does each of the following items have on net income? The owner withdrew cash from the business. Credit customers paid $3,000 on outstanding balances that were past due. The business bought equipment on account that cost $15,000. The…