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JM Ltd had the following material transactions during November. Number of units Cost per unit Opening balance 1 November 20 4.00 Receipt 8 November 140

JM Ltd had the following material transactions during November. Number of units Cost per unit Opening balance 1 November 20 4.00 Receipt 8 November 140 4.40 Issues 12 November 80 Receipt 18 November 100 4.60 Issues 26 November 140 Calculate the closing inventory value at the end of November using LIFO

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