The Following Information Was Available for Camara Company at December

question 125

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 days in inventory in 2022 was

• A)40.6 days.
• B)46.2 days.
• C)57.9 days.
• D)68.9 days.

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Definitions:

Outside Purchase

Acquisition of goods or services from external suppliers due to inability or inefficiency in producing internally.

Total Cost Concept

A principle in accounting and economics that considers all costs related to the production of a good or service, both fixed and variable.

Manufacturing Costs

Expenses directly related to the production of goods, including direct labor, direct materials, and manufacturing overhead.

Selling and Administrative Expenses

Costs related to the selling of products and the general administration of a business.