In its first month of operation Maze Company purchased 100units of inventory for

In its first month of operation Maze Company purchased 100units of inventory for $6 then 200 units for $7 and finally 150units for $8. At the end of the month 180 units remained. Computethe amount of phantom profit that would result if the company usedFIFO rather than LIFO. The company uses the periodic method.