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Compute the amount of phantom profit that would result if

In its first month of operation, Kuhlman Company purchased 110 units of inventory for $11, then 210 units for $12, and finally 150 units for $13. At the end of the month, 170 units remained.

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

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Accounting Basics: Compute the amount of phantom profit that would result if

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Accounting Basics: Compute the amount of phantom profit that would result if

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