While preparing the budgeted income statement of a merchandising company,the amount of cost of goods sold can be taken from the ________.

Question

Quizplus · Accepted Answer

The inventory, purchases, and COGS budget provides the estimated cost of goods sold for the period, which is essential for preparing the budgeted income statement. The budgeted balance sheet and cash flow statement do not provide this specific information, and the capital expenditures budget is not relevant to determining the cost of goods sold.

While Preparing the Budgeted Income Statement of a Merchandising Company,the