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    skbutts's Avatar
    skbutts Posts: 1, Reputation: 1
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    #1

    Jul 20, 2011, 05:29 AM
    Budgeted Income Statement
    Where does inventory get placed on a budgeted income statement?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Jul 20, 2011, 06:35 AM

    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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