'Problem 1 (80 points total) (chapter 12) Rick Krest is the materials manager at Spencer Electric in Muncie, Indiana. Dave is looking for ways to reduce inventories. A recent statement shows the following inventories: raw materials, $5,127,400; work- in-process, $6,432,000; and finished goods, $3,587,200. This year's cost of goods sold will be about $34.7 million. Assume 52 business weeks per year. Answer following two questions: answer 1A. What is the raw material inventory 20 points (two decimal places) expressed in dollars) answer 1B. What is work in process inventory 20 points (two decimal places) (expressed in dollars) answer 1C. What is the finished goods inventory 10 points (two decimal places) (expressed in dollars) answer 1D. Average aggregate inventory value is 10 points (two decimal places) ( expressed in dollars) answer 1E. Weekly sales is 10 points (two decimal places) answer 3 1F. Express total inventory as weeks of supply. 5 points (two decimal places) answer 1G. Express total inventory as Inventory turns. (Inventory turnover) 5 points (two decimal places)