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Marvellous Man Corp. entered into the following inventory-related transactions, listed in date order:
1 March: opening balance: 40 chairs, all bought on 28 February at R20 each.
10 March: 20 chairs were bought at R28 each.
15 March: 80 chairs were bought at R32 each.
21 March: 70 chairs were sold.
Problem 1: Using the Weighted Average formula, calculate:
a) Cost of goods sold for March:
b) Inventory balance as at 31 March:
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