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In September 2022, the budget committee of Bramble Company assembles the following data: 1. Expected Sales October $1,890,000 November 1,750,000 December 1,590,000 2. Cost
In September 2022, the budget committee of Bramble Company assembles the following data: 1. Expected Sales October $1,890,000 November 1,750,000 December 1,590,000 2. Cost of goods sold is expected to be 70% of sales. 3. Desired ending merchandise inventory is 20% of the next month's cost of goods sold. 4. The beginning inventory at October 1 will be the desired amount. Prepare the budgeted income statement for October through gross profit on sales, including a cost of goods sold schedule. BRAMBLECOMPANY Budgeted Income Statement $ $ $
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