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:

Consumer Surplus

The variance between the price consumers are prepared to pay for a product or service and the price they actually incur.

Value

The importance, worth, or usefulness of something, often expressed in monetary terms but can also represent sentimental or intrinsic worth.

Sales Tax

A tax levied on the sale of goods and services, typically calculated as a percentage of the purchase price and collected by the retailer.

Corporate Income Tax

A tax imposed on the net income of companies.