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Compute the amount of phantom profit using fifo

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In its first month of operation, Kuhlman Company purchased 250 units of inventory for $8, then 350 units for $9, and finally 290 units for $10. At the end of the month, 330 units remained.

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

Reference no: EM131820547

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