145. What is the main difference between the income statement of a manufacturer and that of a merchandiser? 146. What are raw materials inventory turnover and days’ sales in raw materials...

145. What is the main difference between the income statement of a manufacturer and that of a merchandiser?

146. What are raw materials inventory turnover and days’ sales in raw materials inventory? What is the purpose of these measures?

147. What are prime costs? What are conversion costs?

148. What are the components of the manufacturing statement? Describe each component.