When preparing the budgeted income statement of a merchandising company, the amount of cost of goods sold can be taken from the . A. capital expenditures budget B. cost of goods sold budget C. inventory, purchases, and cost of goods sold budget D. budgeted balance sheet

C. inventory, purchases, and cost of goods sold budget.

Explanation:

Option A is wrong because the capital expenditure budget shows the balance of non-current assets.

Option B is wrong because the is no separate cost of the good sold budget.

Option D is wrong because the balance sheet shows the asset liability and equity.

Option C is correct because, from the inventory, purchases, and cost of goods sold budget, we can get the amount of cost of goods sold, which requires beginning an ending inventory and purchase of raw materials.

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