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Compute the amount of phantom profit

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Question - In its first month of operation, Kuhlman Company purchased 270 units of inventory for $6, then 370 units for $7, and finally 310 units for $8. At the end of the month, 340 units remained.

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

Reference no: EM132451169

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