Zehms company began operations in 2010 and adopted

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Reference no: EM13600800

Zehms Company began operations in 2010 and adopted weighted-average pricing for inventory. In 2012, in accordance with other companies in its industry, Zehms changed its inventory pricing to FIFO. The pretax income data is reported below.
Year Weighted-Average FIFO

2010 $381,400 $413,200
2011 394,800 423,400
2012 417,800 475,400

Compute the cumulative effect of the change in accounting principle from weighted-average to FIFO inventory pricing.

Reference no: EM13600800

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