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What is Coronados net income

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Question - Coronado 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, Coronado changed its inventory pricing to FIFO. The pretax income data is reported below.

YEAR

WEIGHTED AVERAGE

FIFO

2015

$379,600

$406,100

2016

$405,000

$421,500

2017

$427,700

$480,500

Required - What is Coronado's net income in 2017? Assume a 35% tax rate in all years.

Reference no: EM132529922

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