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Compute the amount of phantom profit

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In its first month of operation, Kuhlman Company purchased 260 units of inventory for $5, then 360 units for $6, and finally 300 units for $7. At the end of the month, 320 units remained.

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

Reference no: EM131771626

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