In September 2022, the budget committee of Flint Company assembles the following data: 1. Expected Sales October $1,860,000 November 1,710,000 December 1,550,000 2. Cost of goods sold is expected to be 60% of sales. 3. Desired ending merchandise inventory is 20% of the next month's cost of goods sold. 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. FLINTCOMPANY Budgeted Income Statement $ Attempts: 0 of 1 used Submit Answer Save for Later