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-   -   Budgeted Income Statement (https://www.askmehelpdesk.com/showthread.php?t=588449)

  • Jul 20, 2011, 05:29 AM
    skbutts
    Budgeted Income Statement
    Where does inventory get placed on a budgeted income statement?
  • Jul 20, 2011, 06:35 AM
    pready

    Inventory does not go on an income statement or a budgeted income statement because it is a balance sheet account.

    However cost of goods sold does go on an income statement and a budgeted income statement. Cost of Goods Sold is the cost of inventory that is sold or expected to be sold during the accounting period.

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