Blossom Company began operations in 2018 and for simplicity reasons, adopted weighted average pricing for inventory. In 2020, in accordance with other companies in its industry, Blossom changed its inventory pricing to FIFO. The pretax income data is reported below. Year 2018 2019 2020 Weighted- Average $382.100 398,700 421,100 FIFO $398,800 426,900 466,900 (a) Your answer is correct What is Blossom's net income in 2020? Assume a 35% tax rate in all years. Net Income $ $ 303485 eTextbook and Media Attempts: 1 of 3 used (b) Compute the cumulative effect of the change in accounting principle from weighted average to FIFO inventory pricing Net effect $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (c) The parts of this question must be completed in order. This part will be available when you complete the part above