Compute the amount of phantom profit

Reference no: EM131002194

In its first month of operation, Kuhlman Company purchased 380 units of inventory for $11, then 480 units for $12, and finally 420 units for $13. At the end of the month, 450 units remained.

Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO

Reference no: EM131002194

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