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photo A and B are the same question with two photos for clear understanding of the question
In September 2022, the budget committee of Riverbed Company assembles the following data: 1. Expected Sales 2. Cost of goods sold is expected to be 60% of sales. 3. Desired ending merchandise inventory is 30% 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. RIVERBEDCOMPANV Budgeted Income Statement $
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