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Brief Exercise 6-5 In its first month of operation, Kuhlman Company purchased 210 units of...

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Accounting

Brief Exercise 6-5

In its first month of operation, Kuhlman Company purchased 210 units of inventory for $7, then 310 units for $8, and finally 250 units for $9. At the end of the month, 280 units remained. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO.

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