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    asghar1984 Posts: 2, Reputation: 1
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    Jan 28, 2012, 11:34 PM
    Zehms Company began operations in 2008 and adopted weighted-average pricing for inven
    Zehms Company began operations in 2008 and adopted weighted-average pricing for inventory. In 2010, in accordance with other companies in its industry, Zehms changed its inventory pricing to FIFO. The pretax income data is reported below.

    Year Weighted-
    Average FIFO
    2008 $370,000 $395,000
    2009 390,000 420,000
    2010 410,000 460,000

    (a) What is Zehms's net income in 2010? Assume a 35% tax rate in all years

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