Shown here are annual financial data for a merchandising company and a manufacturing company.

	Music World Retail	Wave-Board Manufacturing
Beginning inventory
Merchandise	$ 165,000
Finished goods		$ 220,000
Cost of merchandise purchased	310,000
Cost of goods manufactured		590,000
Ending inventory
Merchandise	60,000
Finished goods		240,000

Required: Prepare the cost of goods sold section of the income statement for each company.