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Compute the amount of phantom profit

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Question - In its first month of operation, Kuhlman Company purchased 100 units of inventory for $10, then 200 units for $11, and finally 140 units for $12. At the end of the month, 160 units remained.

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

Reference no: EM132029776

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