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In preparing financial statements for the year ended 31 March 20X6, the inventory count was carried out on 4 April 20X6. The value of inventory counted was $72 million. Between 31 March and 4 April goods with a cost of $5.4 million were received into inventory and sales of $15.6 million were made at a mark-up on cost of 30%.
Using the drop down box. select at what amount inventory should be stated in the statement of financial position as at 31 March 20X6?
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