The Following Information Was Available for Camara Company at December

question 46

Multiple Choice

The following information was available for Camara Company at December 31, 2022: beginning inventory $80,000; ending inventory $120,000; cost of goods sold $630,000; and sales $900,000.Camara's inventory turnover in 2022 was

• A)9.0 times.
• B)7.9 times.
• C)6.3 times.
• D)5.3 times.

---

Definitions:

Central Banks

Primary financial institutions responsible for the oversight and management of a country's currency, money supply, and interest rates, aiming to stabilize the economy.

International Trade

The exchange of goods, services, and capital between countries, driven by comparative advantages and economies of scale.

Financial Account

A component of the balance of payments that records transactions involving financial assets and liabilities between residents of a country and non-residents.

Oil Imported

The total volume of crude oil and petroleum products that a country acquires from foreign sources to meet its energy and fuel needs.