In its first month of operation, Skysong, Inc. purchased 190 units of inventory for $6, then 290 units for $7, and finally 230 units for $8. At the end of the month, 270 units remained. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO.

Phantom profit

$

In its first month of operation, Skysong, Inc. purchased 190 units of inventory for $6, then 290 units for $7, and finally 230 units for $8. At the end of the month, 270 units remained. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO. Phantom profit $ $