- Novak 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. Novak changed its inventory pricing to FIFO. The pretax income data is reported below Year 2018 2019 2020 Weighted Average $382.200 392,500 421.300 FIFO $397.800 439,000 464.100 Assume a 35% tax rate in all years. What is Novak's net income in 20202 Net Income $ Saveto Attempts: 0 of 3 used Suunt