Ford Motor Company provided the following inventory data:

Inventory Type	Beginning Balance ($)	Ending Balance ($)
Raw Materials	3,000,000	3,500,000
Work in Progress	2,500,000	2,700,000
Finished Goods	4,000,000	3,800,000

Requirements:

1. Prepare a Schedule of Cost of Goods Manufactured.
2. Compute the total manufacturing costs.
3. Determine the Cost of Goods Sold.
4. Analyze the impact of a 5% increase in raw material costs on the Cost of Goods Manufactured.
5. Discuss the implications of inventory management on profitability.