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ACC/290 290 In its first month of operation, Kuhlman Company

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June 7th, 2024

In its first month of operation, Kuhlman Company purchased 240 units of inventory for $8, then 340 units for $9, and finally 280 units for $10. At the end of the month, 310 units remained.Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO.

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