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Effects of differences b/w inventories of manufacturing & merchandising firms on respective income statements?

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Effects of differences b/w inventories of manufacturing & merchandising firms on respective income statements?

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  1. Mfg firms have a Cost of Goods Manufactured statement, which merchandising firms don't have. Mfg firms' inventories consist of Raw Materials, Work in progress, and Finished Goods. Merchandising firms' inventories are just Merchandising inventory.

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