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Compute the amount of phantom profit

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Question - In its first month of operation, Kuhlman Company purchased 360 units of inventory for $9, then 460 units for $10, and finally 400 units for $11. At the end of the month, 430 units remained.

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

Reference no: EM132042856

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