What is nus net income if it elects fifo

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Question - Nu Company reported the following pretax data for its first year of operations.

Net sales 2,960

Cost of goods available for sale 2,490

Operating expenses 750

Effective tax rate 20%

Ending inventories: 

If LIFO is elected 1,010 If FIFO is elected 1,070

Required - What is Nu's net income if it elects FIFO?

Reference no: EM132541132

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