Calculate Cost of Goods Sold for the following two companies Beginning Inventory LEWIS INC MERCER

Question

Calculate Cost of Goods Sold for the following two companies:

Beginning Inventory:	LEWIS, INC.	MERCER CO.
Beginning Inventory:
Merchandise	$250,000
Finished Goods		$550,000
Cost of Goods Purchased	460,000
Cost of Goods Manufactured		688,000
Ending Inventory:
Merchandise	128,000
Finished Goods		350,000

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