Value-Stream Reporting with Inventory Decrease Rivera Manufacturing, Inc., has implemented lean manufacturing in its Kansas City plant as a pilot program. One of its value streams produces a family of small electric tools. The value-stream team managers were quite excited about the results, as some of their efforts to eliminate waste were proving to be effective. During the most recent three weeks, the following data pertaining to the electric tool value stream were collected: Week 1: Demand= 90 units @ $60 Beginning inventory= 5 units @ $20 ($5 materials and $15 conversion) Production= 90 units using $300 of materials and $1,200 of conversion cost Week 2: Demand= 100 units @ $60 Beginning inventory= 5 units @ $20 ($5 materials and $15 conversion) Production= 90 units using $300 of materials and $1,200 of conversion cost Week 3: Demand= 90 units @ $60 Beginning inventory= 0 Production= 100 units using $650 of materials and $1,500 of conversion cost Required: 1. Prepare a traditional income statement for each week. Rivera Manufacturing, Inc. Traditional Income Statement Week 1 Week 2 Week 3 Sales Cost of goods sold 1000 Gross profit 2. Calculate the average value-stream product cost for each week. If required, round your answers to the nearest cent. Week 1 $ per unit Week 2 $ per unit Week 3 $ per unit 3. Prepare a value-stream income statement for each week. Assume that any increase in inventory is valued at average cost. If an amount is zero, enter "0". Rivera Manufacturing, Inc. Value-Stream Income Statement Week 1 Week 2 Week 3 Sales $ $ Materials Conversion cost Value-stream profit Change in inventory Gross profit