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Sheridan Company began operations in 2023 and for simplicity reasons, adopted weighted-average pricing for inventory. In 2025, in accordance with other companies in its

Sheridan Company began operations in 2023 and for simplicity reasons, adopted weighted-average pricing for inventory. In 2025, in accordance with other companies in its industry, Sheridan changed its inventory pricing to FIFO. The pretax income data is reported below. Year Weighted- Average FIFO 2023 $384,500 $412,900 2024 400,000 438,700 2025 421,400 473,600 (a) Your answer is correct What is Sheridan's net income in 2025? Assume a 35% tax rate in all years. Net income $ 307840

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