Shown here are annual financial data for a merchandising company and a manufacturing company. Music World Wave-Board Retail Manufacturing Beginning inventory Merchandise $ 215,000 $ 230,000 Finished goods Cost of merchandise purchased Cost of goods manufactured Ending inventory 340,000 578,000 Merchandise 60,000 Finished goods 200,000 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. Merchandising Manufacturing Business Business Prepare the cost of goods sold section of the income statement for the Merchandising Busines Cost of Goods Sold for the Year Cost of goods sold Goods available for sale Cost of goods sold Merchandising Business Manufacturing Business Merchandising Manufacturing Business Business Prepare the cost of goods sold section of the income statement for the Manufacturing Busine: Cost of Goods Sold for the Year Cost of goods sold Goods available for sale Cost of goods sold