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Brief Exercise 6-5 In its first month of operation, Splish Brothers Inc. purchased 320 units of inventory for $8, then 420 units for $9, and

Brief Exercise 6-5 In its first month of operation, Splish Brothers Inc. purchased 320 units of inventory for $8, then 420 units for $9, and finally 360 units for $10. At the end of the month, 400 units remained. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO. Phantom profit

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