Question 1 of 3 View Policies Show Attempt History < Current Attempt in Progress Your answer is incorrect. 0/2 E In its first month of operation, Skysong Company purchased 114 units of inventory for $6, then 228 units for $7, and finally 146 units for $8. At the end of the month, 212 units remained. The company uses the periodic method. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO. Phantom profit $ 280