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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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