Compute the amount of phantom profit

Reference no: EM13756817

In its first month of operation, Kuhlman Company purchased 210 units of inventory for $11, then 310 units for $12, and finally 250 units for $13. At the end of the month, 280 units remained.

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

Reference no: EM13756817

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