In its first month of operation, kingbird, inc. purchased 320 units of inventory for $9, then 420 units for $10, and finally 360 units for $11. 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.

The smelting department of kiner company has the following production and cost data for november. production: beginning work in process 3,700 units that are 100% complete as to materials and 23% complete as to conversion costs; units transferred out 10,500 units; and ending work in process 8,100 units that are 100% complete as to materials and 41% complete as to conversion costs. compute the equivalent units of production for (a) materials and (b) conversion costs for the month of november. materials conversion costs total equivalent units