The Following Information Was Available for Bowyer Company at December

question 9

Multiple Choice

The following information was available for Bowyer Company at December 31, 2022: beginning inventory $90,000; ending inventory $70,000; cost of goods sold $800,000; and sales $1,100,000.Bowyer's days in inventory in 2022 was

• A)26.4 days.
• B)36.5 days.
• C)32.0 days.
• D)41.0 days.

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Definitions:

Great Britain

An island in the North Atlantic Ocean off the northwest coast of continental Europe, comprising England, Scotland, and Wales.

Corn Laws

Legislation enacted in the UK in the early 19th century that imposed restrictions and tariffs on imported grain, designed to protect domestic producers but leading to higher food prices and contributing to public unrest.

Imported Wheat

Wheat brought into a country from another to supplement local production, often to meet national food supply needs or preferences.

Tariffs

Taxes imposed by a government on imported or, less commonly, exported goods, typically used to protect domestic industries from foreign competition and to raise revenue.