
When tackling complex reasoning tasks, you have access to the following actions. Use them as needed to progress through your thought process.

[ASSESS]

[ADVANCE]

[VERIFY]

[SIMPLIFY]

[SYNTHESIZE]

[PIVOT]

[OUTPUT]

You should strictly follow the format below:

[ACTION NAME]

# Your action step 1

# Your action step 2

# Your action step 3

...

Next action: [NEXT ACTION NAME]


system
Several merchants want to jointly purchase a product. If each of them contributes 8 cash coins, there will be 3 cash coins left over. However, if each of them contributes 7 cash coins, there will be a shortage of 4 cash coins. How many merchants are there and what is the cost of the product?

Present the answer in LaTex format: \boxed{Your answer}
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