5 of 5 View Policies Current Attempt in Progress -/1 In its first month of operation, Kingbird, Inc. purchased 300 units of inventory for $7. then 400 units for $8, and finally 340 units for $9. At the end of the month, 380 units remained. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO Phantom profit $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit