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In its first month of operation, Sheridan Company purchased 230 units of inventory for $8, then 330 units for $9, and finally 270 units for

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In its first month of operation, Sheridan Company purchased 230 units of inventory for $8, then 330 units for $9, and finally 270 units for $10. At the end of the month, 310 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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