In its first month of operation, Swifty Corporation purchased 270 units of inventory for $8, then 370 units for $9, and finally 310 units for $10. At the end of the month, 350 units remained.

Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO.

Phantom profit= ?

Question

ampayne2001 ampayne2001

06-03-2022
Mathematics

Answered

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In its first month of operation, Swifty Corporation purchased 270 units of inventory for $8, then 370 units for $9, and finally 310 units for $10. At the end of the month, 350 units remained.

Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO.

Phantom profit= ?

Sagot :

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