Problem 18-5A Inventory computation and reporting LO C4, P1 Shown here are annual financial data at December 31, 2017, taken from two different companies. Music World Retail Wave-Board Manufacturing Beginning inventory Merchandise $155,000 Finished goods Cost of purchases Cost of goods manufactured $310,000 340,000 578,000 Ending inventory Merchandise 170,000 Finished goods 230,000 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 Mfg Business Business Prepare the cost of goods sold section of the income statement at December 31, 2017, for company in Merchandising Business MUSIC WORLD RETAIL Partial Income Statement For Year Ended December 31, 2017 Cost of goods sold: Goods available for sale Cost of goods sold Merch Mfg Business 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 Cost of goods sold