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Compute the amount of phantom profit

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In its first month of operation, Kuhlman Company purchased 150 units of inventory for $7, then 250 units for $8, and finally 190 units for $9. At the end of the month, 230 units remained.

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

Reference no: EM131764072

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