Shown here are annual financial data at December 31, 2017, taken from two different companies. Music World Retail Wave-Board Manufacturing $155,000 250,000 $210,000 Beginning inventory Merchandise Finished goods Cost of purchases Cost of goods manufactured Ending inventory Merchandise Finished goods 589,000 90,000 260,000 Required: 1. Prepare the cost of goods sold section of the income statement at December 31, 2017, for each compa Merchandising Business and Manufacturing Business. Complete this question by entering your answers in the tabs below. Merch Business Mfg Business Prepare the cost of goods sold section of the income statement at December 31, 2017, for company in Merchar Business MUSIC WORLD RETAIL Partial Income Statement For Year Ended December 31, 2017 Cost of goods sold: Cost of goods manufactured Add: Cost of goods manufactured Goods available for sale Less: Finished goods inventory, December 31, 2017 Cost of goods sold 589,000 799,000 1,388,000 539,000 849,000 $ Merch Business Mfg Business > uai hanclal data at December 31, 2017, taken from two different companies. Wave-Board Manufacturing Music World Retail Beginning inventory Merchandise $155,000 Finished goods Cost of purchases 250,000 Cost of goods manufactured Ending inventory Merchandise 90,000 Finished goods $210,000 589,000 260,000 Required: 1. Prepare the cost of goods sold section of the income statement at December 31, 2017, for each company in Merchandising Business and Manufacturing Business. Complete this question by entering your answers in the tabs below. Merch Business Mfg Business Prepare the cost of goods sold section of the income statement at December 31, 2017, for company in Manufacturing Business WAVE-BOARD MFG. Partial Income Statement For Year Ended December 31, 2017 Cost of goods sold Goods available for sale 0 Cost of goods sold $ 0