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Using FIFO: • 1,200 units sold = 500 @ ₹50 + 700 @ ₹55 = ₹25,000 + ₹38,500 = ₹63,500 • Remaining 300 units = from last purchase @ ₹55 = ₹16,500 So Closing stock = 300 x ₹55 = ₹16,500.
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