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3 Use the information provided by Klicks Stores below lo prepare
an extract of the
(11
statement of comprehensive income for the year ended 31 December
2020 that
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reflects the value of closing inventory as at 31 Decerber 2020
and gross profit
for the year ended 31 December 2020 using the following methods
of inventory
valuation:
23.1Weighted average cost (Round off the average cost per unit
to the nearest cent.)
(4
marks)
2.3.2 First-In-First-Out(FIFO)
(4
marks)
(3
23.3Last-In-First-Out (LIFO).
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INFORMATION