Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Year Pretax income with weighted average pretax income with FIFO 2018 210,000 240,000 2019 250,000 290,000 2020 175,000 190,000 30% tax. How much would be
| Year | Pretax income with weighted average | pretax income with FIFO |
| 2018 | 210,000 | 240,000 |
| 2019 | 250,000 | 290,000 |
| 2020 | 175,000 | 190,000 |
30% tax. How much would be retained earning due to change in inventory methods?
-49,000
-85,000
-70,000
-59,500
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Introductory Accounting A Measurement Approach For Managers
Authors: Daniel P. Tinkelman
1st Edition
9781138956216
