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Brief Exercise 6-06 In its first month of operation, Blue Spruce Corp. purchased 340 units of inventory for $8, then 440 units for $9, and

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Brief Exercise 6-06 In its first month of operation, Blue Spruce Corp. purchased 340 units of inventory for $8, then 440 units for $9, and finally 380 units for $10. At the end of the month, 420 units remained. The company uses the periodic method. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO. Phantom profit

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