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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,

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.

Roshan kumar 10-Nov-2017

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