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Compare the manufacturing, merchandising, and service sectors. How do they differ as to the kinds of businesses in each category? Please give examples as well as descriptions. Discuss also the nature of their outputs and types of inventory, if any. What are the requirements of each concerning GAAP and inventory and COGS valuations?

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Compare the manufacturing, merchandising, and service sectors. How do they differ as to the kinds of businesses in each category? Please give examples as well as descriptions. Discuss also the nature of their outputs and types of inventory, if any. What are the requirements of each concerning GAAP and inventory and COGS valuations?