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In its first month of operation,Marigold Corp.purchased350units of inventory for $10, then450units for $11, and finally390units for $12. At the end of the month,430units remained.

In its first month of operation,Marigold Corp.purchased350units of inventory for $10, then450units for $11, and finally390units for $12. At the end of the month,430units remained.

Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO.

Phantom profit

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