Business
Business, 20.03.2020 00:51, yeidiyan9490

N its first month of operation, Splish Brothers Inc. purchased 320 units of inventory for $8, then 420 units for $9, and finally 360 units for $10. At the end of the month, 400 units remained. The company uses the periodic method. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO.

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