Shown here are annual financial data at December 31, 2015, taken from two different companies.

	Music World Retail			Wave-Board Manufacturing
Beginning inventory
Merchandise	$	195,000
Finished goods				$	330,000
Cost of purchases		250,000
Cost of goods manufactured					594,000
Ending inventory
Merchandise		100,000
Finished goods					160,000

Required:
1.	Prepare the cost of goods sold section of the income statement at December 31, 2015, for each company.
	Merchandising Business

	Manufacturing Business