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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 D 12 November 80 Receipt 18 November 100 4.60 Issues 26 November 140 Calculate the closing inventory value at the end of November using FIFO. Show your workings in excel or word documents

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