Question 7 of 12 View Policies < Current Attempt in Progress 10 5/1 E In its first month of operation, Metlock Company purchased 86 units of inventory for $6, then 172 units for $7, and finally 118 units for $8. At the end of the month. 156 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 S eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer