Whats the cost of goods sold for each company?

P16-27A Calculating cost of goods sold for merchandi ising and manufacturing Learning Objective 3 companies Below are data for two companies: 3 Company B: $217,800 Company A Company B Beginning balances: 10,600 Merchandise Inventory Finished Goods Inventory 15,000 Ending balances: 13,100 Merchandise Inventory Finished Goods Inventory 11,700 Net Purchases Cost of Goods Manufactured 154,500 214,500 Requirements 1. Define the three business types: service, merchandising, and manufacturing. 2. Based on the data given for the two companies, determine the business type of each one. 3. Calculate the cost of goods sold for each company