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Tamarisk Company began operations in 2018 and for simplicity reasons, adopted weighted average pricing for inventory. In 2020, in accordance with other companies in its
Tamarisk 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, Tamarisk changed its inventory pricing to FIFO. The pretax income data is reported below. Weighted- Average Year FIFO 2018 $373,800 $403,300 2019 391,900 434,700 2020 412.800 471,500 Assume a 35% tax rate in all years. x Your answer is incorrect. Show comparative income statements for Tamarisk Company, beginning with income before income tax, as presented on the 2020 income statement. 2020 2019 2018 $ 373800 Income before income tax $ 391900 $ 373800 391900 434700 Income tax 403300 $ Net Income
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