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What is brambles net income

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Problem

Bramble Company began operations in 2015 and for simplicity reasons, adopted weighted-average pricing for inventory. In 2017, in accordance with other companies in its industry, Bramble changed its inventory pricing to FIFO. The pretax income data is reported below.

Year

Weighted-Average

FIFO

2015

$387,100

$402,400

2016

392,500

422,000

2017

430,800

463,500

(a) What is Bramble's net income in 2017? Assume a 35% tax rate in all years.

Reference no: EM131800616

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