Help Save & Exit Nu Company reported the following pretax data for its first year of operations. Net sales Cost of goods available for sale Operating expenses Effective tax rate Ending inventories: If LIFO is elected If FIFO is elected 2,990 2,460 790 20% 950 1,150 What is Nu's net income if it elects FIFO? Multiple Choice O $712 O O $552. O O $1,680