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Compute the amount of phantom profit

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Question - In its first month of operation, Kuhlman Company purchased 180 units of inventory for $4, then 280 units for $5, and finally 220 units for $6. At the end of the month, 260 units remained.

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

Reference no: EM132010062

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