We have developed a new method for the determination of photoabsorption at extreme ultraviolet wavelengths longer than 20 nm, where reliable refractive index values are sparse or non-existent. Our method overcomes the obstacle of multiple reflections that occur inside thin films in this spectral range, which up until now has prevented the accurate determination of photoabsorption from transmittance measurements. We have derived a mathematical expression that is independent of internal reflection amplitudes, while taking advantage of the transmittance oscillations stemming from such reflections. The method is validated on measurements of aluminum thin films. This advance will enable accurate refractive index values for many important materials for optical instrumentation, thus facilitating high-priority research on topics including coherent light sources, planetary and solar physics, and semiconductor manufacturing.