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In its first month of operation, Kuhlman Company purchased 330 units of inventory for $11,

In its first month of operation, Kuhlman Company purchased 330 units of inventory for $11, then 430 units for $12, and finally 370 units for $13. At the end of the month, 410 units remained.

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

Nov 10 2017 View more View Less

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