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Brief Exercise 6-5 In its first month of operation, Kuhlman Company purchased 180 units of inventory for $5, then 280 units for $6, and finally
Brief Exercise 6-5 In its first month of operation, Kuhlman Company purchased 180 units of inventory for $5, then 280 units for $6, and finally 220 units for $7. At the end of the month 260 units remained. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO. Phantom Profit ? Need help figuring this question out. Thank you in advance
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