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Phantom profit

19/11/2020 Client: papadok01 Deadline: 24 Hours

In its first month of operation, Kuhlman Company purchased 290 units of inventory for $11, then 390 units for $12, and finally 330 units for $13. At the end of the month, 370 units remained.

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

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