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In its first month of operation, Kuhlman Company purchased 110 units of inventory for $6, then 210 units for $7, and finally 150 units for
In its first month of operation, Kuhlman Company purchased 110 units of inventory for $6, then 210 units for $7, and finally 150 units for $8. 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.
I am missing a step and cannot get the right answer to get the phantom profit
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