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 2,880 2,450 830 20% 860 1,100 What is Nu's net income if it elects FIFO? Multiple Choice $1,530 Multiple Choice o $1,530. o $560. o $368 o $700