Shown here are annual financial data for a merchandising company and a manufacturing company. Music World Wave-Board Manufacturing Retail Beginning inventory $ Merchandise 165,000 Finished goods $ 290,000 Cost of merchandise 340,000 purchased Cost of goods manufactured 587,000 Ending inventory Merchandise 110,000 Finished goods 210,000 Required: Prepare the cost of goods sold section of the income statement for each company. Complete this question by entering your answers in the tabs below. Mercha... Manufac... Business Business Prepare the cost of goods sold section of the income statement for the Merchandising Business. Cost of Goods Sold for the Year Cost of goods sold Goods available for sale Cost of goods sold $ 0 Manufacturing Business > < Merchandising Business Complete this question by entering your answers in the tabs below. Mercha... Manufac... Business Business Prepare the cost of goods sold section of the income statement for the Manufacturing Business. Cost of Goods Sold for the Year Cost of goods sold Goods available for sale Cost of goods sold 0 $ 0 Manufacturing Business > < Merchandising Business