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Gamble Limited had the following inventory and purchases of its sole inventory item: Units Total Cost Opening Inventory 100 800 March 500 4,100 June 500
Gamble Limited had the following inventory and purchases of its sole inventory item:
Units | Total Cost | |
Opening Inventory | 100 | 800 |
March | 500 | 4,100 |
June | 500 | 4,200 |
August | 600 | 4,680 |
The company has 200 units of closing inventory.
If Gample Limited uses the weighted average cost method to value inventory, what is the value of closing inventory?
You should round your answer to the nearest whole number and give your answer without a sign e.g. if your answer was 2,308.93, enter 2309.
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