In September 2022, the budget committee of Riverbed Company assembles the following data: 1 Expected Sales October $1,820,000 November 1.730,000 December 2. 1,500,000 Cost of goods sold is expected to be 60% of sales. Desired ending merchandise inventory is 30% of the next month's cost of goods sold The beginning inventory at October 1 will be the desired amount 3. 4. Prepare the budgeted income statement for October through gross profit on sales, including a cost of goods sold schedule RIVERBEDCOMPANY Budgeted Income Statement For the Month Ended October 31, 2022 : Sales Cost of Goods Sold RIVERBEDCOMPANY Budgeted Income Statement For the Month Ended October 31, 2022 : Sales Cost of Goods Sold Inventory, October 1 Purchases Cost of Goods Available for Sale : Less : Inventory, October 31 Cost of Goods Sold Gross pront e Textbook and Media Attempts: 0 of 2 used Submit Answer Save for Later