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Brief Exercise 4-6 During 2017, Sheff eld Company changed from FIFO to weighted-average inventory pricing. Pretax Income in 2016 and 2015 (Shefflelo's first vear of
Brief Exercise 4-6 During 2017, Sheff eld Company changed from FIFO to weighted-average inventory pricing. Pretax Income in 2016 and 2015 (Shefflelo's first vear of operatilons) under FIFO was $167,270 and $196,730, respectively, Pretax Income using welghted-average pricing in the prior years would have been $152,700 In 2016 and $177,900 In 2015, n 2017, Sheffield reported pretax Income (using welghted-average pricing) of $205,600. Show comparative Income statements for Sheffleld, beginning with Income before Income tax, as presented on the 2017 Income statement. (he tax rate In all years Is 286) 2017 2015 Income bafora income tax Income tax Net Income Click if you would like to Show Work for this question: QRen Show Work
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