Goosen Company began business in $20$x$2$ and has elected a December $31$st year$-$end. The following pretax information is avaialable for Goosen Company as of December $31,20$x$2$:

Net sales $2,980$

Cost of goods available for sale $2,430$

Operating expenses $790$

Effective tax rate $20\%$

Ending inventories:

If LIFO is elected $860$

If FIFO is elected $1,140$

Calculate Goosen's after tax net income assuming it elects to use the FIFO method of accounting for its inventories.Goosen Company began business in $202$ and has elected a December $31$ st year$-$end. The following pretax

information is avaialable for Goosen Company as of December $31,20\backslash$times $2$:

Calculate Goosen's after tax net income assuming it elects to use the FIFO method of accounting for its inventories.

Multiple Choice

$$720.$

$$900.$

$$496.$

$$1,690.$