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Question 6 of 13 < > View Policies Current Attempt in Progress During 2022, Novak Company changed from FIFO to weighted-average inventory pricing. Pretax
Question 6 of 13 < > View Policies Current Attempt in Progress During 2022, Novak Company changed from FIFO to weighted-average inventory pricing. Pretax income in 2021 and 2020 (Novak's first year of operations) under FIFO was $204,800 and $230,400, respectively. Pretax income using weighted-average pricing in the prior years would have been $185,600 in 2021 and $217.600 in 2020. In 2022. Novak Company reported pretax income (using weighted-average pricing) of $230,400. Show comparative income statements for Novak Company, beginning with "Income before income tax as presented on the 2022 income statement. (The tax rate in all years is 30%) Income before income tax $ Income tax Net Income $ eTextbook and Media Save for Later 2022 2021 2020 Attempts: 0 of 3 used Submit Answer
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