Using the information from Problem 18-2B and the inventory information for Best Bikes below, complete Probl the requirements below. Assume income tax expense is $136,700 for the year. Sched goods and in analys Inventories Raw materials, December 31, 2014 Raw materials, December 31, 2015 Work in process, December 31, 2014 Work in process, December 31, 2015 Finished goods, December 31, 2014. . Finished goods, December 31, 2015. $ 40,375 P2 70,430v 12.500 14,100 77.200 41,750 Required 1. Prepare the company's 2015 schedule of cost of goods manufactured. 2. Prepare the Chec and (b) general and administrative expenses. Analysis Component 3. Compute the (a) inventory turnover, defined as cost of goods sold divided by average inventory, and lb) days' sales in inventory, defined as 365 times ending inventory divided by cost of goods sold, for both its raw materials inventory and its finished goods inventory. (To compute turnover and days' sales in inventory for raw materials, use raw materials used rather than cost of goods sold.) Discuss some possible reasons for differences between these ratios for the two types of inventories. Round answers to one decimal place. Using the information from Problem 18-2B and the inventory information for Best Bikes below, complete Probl the requirements below. Assume income tax expense is $136,700 for the year. Sched goods and in analys Inventories Raw materials, December 31, 2014 Raw materials, December 31, 2015 Work in process, December 31, 2014 Work in process, December 31, 2015 Finished goods, December 31, 2014. . Finished goods, December 31, 2015. $ 40,375 P2 70,430v 12.500 14,100 77.200 41,750 Required 1. Prepare the company's 2015 schedule of cost of goods manufactured. 2. Prepare the Chec and (b) general and administrative expenses. Analysis Component 3. Compute the (a) inventory turnover, defined as cost of goods sold divided by average inventory, and lb) days' sales in inventory, defined as 365 times ending inventory divided by cost of goods sold, for both its raw materials inventory and its finished goods inventory. (To compute turnover and days' sales in inventory for raw materials, use raw materials used rather than cost of goods sold.) Discuss some possible reasons for differences between these ratios for the two types of inventories. Round answers to one decimal place