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Brief Exercise 6-5 In its first month of operation, Kuhlman Company purchased 100 units of...

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Accounting

Brief Exercise 6-5

In its first month of operation, Kuhlman Company purchased 100 units of inventory for $6, then 200 units for $7, and finally 140 units for $8. At the end of the month, 180 units remained. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO.

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