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use FIFO method to calculate the expected value of closing inventory as at 31 December...

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Accounting

use FIFO method to calculate the expected value of closing inventory as at 31 December 2023. INFORMATION The following information was supplied by Secta Suppliers for the 2023 year in respect of its finished goods: Inventory on 01 January - 640 000 Cost of production of finished goods manufactured - 570 000 Cost of goods sold - 435 000 Sales value of goods sold - 675 000

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