Compute the amount of phantom profit

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Reference no: EM13817107

In its first month of operation, Kuhlman Company purchased 290 units of inventory for $9, then 390 units for $10, and finally 330 units for $11. At the end of the month, 360 units remained.

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

Reference no: EM13817107

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