In this assignment, you will decide how to keep the inventory in the text file. Then your program must read the inventory from the file into the array.Each product must have a record in the file with the name, regular price, and type. There are several options for storing records in the file. For example,• each value takes one line in the file (i.e., three lines for one product). Then you must take care of correct handling of the ends of the lines;• all values are in one line that can be read as a string. Then you must handle the parsing of the string;• all values are in one line separated by a delimiter. Then you must handle a line with delimiters.Assume that the inventory does not have more than 100 products. But the actual number is known only after the reading of the file. Once you can read data from the file into the array, you must add a new property to the product class – a static variable that holds the number of products in the inventory. Its value must grow as reading from the file progresses.There is an example of an output and here is my current code, which isn't working:import java.util.Scanner;public class Inventory {/**This class demonstrates the inventory*/publicstaticvoidmain(String[]args){//Scanner ObjectScannerkeyboard=newScanner(System.in); //Variables doublemonth; doubleday;doubleyear; doubleunits; @SuppressWarnings("unused")doublecost;  //Declarationsinttotal; //Declarations Of inventoryintLightBulb60W=1;intLightBulb100W=2;intBoltM5=3; intBoltM8=4;intHose25=5;intHose50=6; //Prints out inventorySystem.out.println("The Inventory:"); System.out.println("1 Light Bulb 60W 3 dollars 0 cents X"); System.out.println("2 Light Bulb 100W 5 dollars 99 cents X"); System.out.println("3 Bolt M5 0 dollars 15 cents Y"); System.out.println("4 Bolt M8 0 dollars 25 cents Y"); System.out.println("5 Hose 25 feet 10 dollars 0 cents Z"); System.out.println("6 Hose 50 feet 15 dollars 0 cents Z
");      //Prints out desirable item number System.out.print("Which item number from the list do you desire?
"); System.out.print("1, 2, 3, 4, 5 or 6?
"); total = keyboard.nextInt(); System.out.print("Your choice: " + total + "
");      // Units System.out.print("How many units do you desire?
"); units = keyboard.nextInt(); System.out.print("Number of units: ");   {System.out.print("When do you plan your purchase?
");}{System.out.print("Month of purchase (mm): ");month=keyboard.nextDouble(); }{System.out.print("Day of purchase (dd): ");day=keyboard.nextDouble(); }{System.out.print("Year of purchase (yy): ");year=keyboard.nextDouble(); }{System.out.print("Date: " + month + day + year + "
");}{ //Switch Statement switch(total){ case(1): cost=3.00; break; case(2): cost=5.99; break; case(3): cost=0.15; break; case(4): cost=0.25; break; case(5): cost=10; break; case(6): cost=15; break; } System.out.println(total); } {System.out.print("Your total is: " + "$" + total * units);}}} The inventory:1 Light Bulb 60W2 Light Bulb 100W3 dollars 0 cents5 dollars 99 cents0 dollars 15 cents0 dollars 25 cents3 Bolt M5Y4 Bolt M8Y5 Hose 25 feet10 dollars 0 cents6 Hose 50 feetYour choice: 6Number of units: 2When do you plan your purchase?Month of purchase (mm): 12Day of purchase (dd): 12Year of purchase (yyyy): 2022Your total for Hose 50 feet is $30.00.15 dollars 0 centsZContinue? (Y/N): N

Question

In this assignment, you will decide how to keep the inventory in the text file. Then your program must read the inventory from the file into the array.Each product must have a record in the file with the name, regular price, and type. There are several options for storing records in the file. For example,• each value takes one line in the file (i.e., three lines for one product). Then you must take care of correct handling of the ends of the lines;• all values are in one line that can be read as a string. Then you must handle the parsing of the string;• all values are in one line separated by a delimiter. Then you must handle a line with delimiters.Assume that the inventory does not have more than 100 products. But the actual number is known only after the reading of the file. Once you can read data from the file into the array, you must add a new property to the product class – a static variable that holds the number of products in the inventory. Its value must grow as reading from the file progresses.There is an example of an output and here is my current code, which isn't working:import java.util.Scanner;public class Inventory {/**This class demonstrates the inventory*/publicstaticvoidmain(String[]args){//Scanner ObjectScannerkeyboard=newScanner(System.in); //Variables doublemonth; doubleday;doubleyear; doubleunits; @SuppressWarnings(&#34;unused&#34;)doublecost;  //Declarationsinttotal; //Declarations Of inventoryintLightBulb60W=1;intLightBulb100W=2;intBoltM5=3; intBoltM8=4;intHose25=5;intHose50=6; //Prints out inventorySystem.out.println(&#34;The Inventory:&#34;);        System.out.println(&#34;1 Light Bulb 60W 3 dollars 0 cents X&#34;);        System.out.println(&#34;2 Light Bulb 100W 5 dollars 99 cents X&#34;);        System.out.println(&#34;3 Bolt M5 0 dollars 15 cents Y&#34;);        System.out.println(&#34;4 Bolt M8 0 dollars 25 cents Y&#34;);        System.out.println(&#34;5 Hose 25 feet 10 dollars 0 cents Z&#34;);        System.out.println(&#34;6 Hose 50 feet 15 dollars 0 cents Z
&#34;);                //Prints out desirable item number        System.out.print(&#34;Which item number from the list do you desire?
&#34;);        System.out.print(&#34;1, 2, 3, 4, 5 or 6?
&#34;);        total = keyboard.nextInt();        System.out.print(&#34;Your choice: &#34; + total + &#34;
&#34;);                // Units        System.out.print(&#34;How many units do you desire?
&#34;);        units = keyboard.nextInt();        System.out.print(&#34;Number of units: &#34;);        {System.out.print(&#34;When do you plan your purchase?
&#34;);}{System.out.print(&#34;Month of purchase (mm): &#34;);month=keyboard.nextDouble(); }{System.out.print(&#34;Day of purchase (dd): &#34;);day=keyboard.nextDouble(); }{System.out.print(&#34;Year of purchase (yy): &#34;);year=keyboard.nextDouble(); }{System.out.print(&#34;Date: &#34; + month + day + year + &#34;
&#34;);}{       //Switch Statement        switch(total){        case(1):        cost=3.00;        break;        case(2):        cost=5.99;        break;        case(3):        cost=0.15;        break;        case(4):        cost=0.25;        break;        case(5):        cost=10;        break;        case(6):        cost=15;        break;        }        System.out.println(total);        } {System.out.print(&#34;Your total is: &#34; + &#34;$&#34; + total * units);}}} The inventory:1 Light Bulb 60W2 Light Bulb 100W3 dollars 0 cents5 dollars 99 cents0 dollars 15 cents0 dollars 25 cents3 Bolt M5Y4 Bolt M8Y5 Hose 25 feet10 dollars 0 cents6 Hose 50 feetYour choice: 6Number of units: 2When do you plan your purchase?Month of purchase (mm): 12Day of purchase (dd): 12Year of purchase (yyyy): 2022Your total for Hose 50 feet is $30.00.15 dollars 0 centsZContinue? (Y/N): N

Accepted Answer

The corrected code is given below:
import java.util.Date;
import java.util.Scanner;
import…