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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

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 Issues 18 November 100 4.60 26 November 140 Calculate the closing inventory value at the end of November using the cumulative weighted average cost.

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