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Nu Company reported the following pretax data for its first year of operations. 2,950 2,360 Net sales Cost of goods available for sale Operating expenses

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Nu Company reported the following pretax data for its first year of operations. 2,950 2,360 Net sales Cost of goods available for sale Operating expenses Effective tax rate Ending inventories: If LIFO is elected If FIFO is elected 880 30% 970 1,140 What is Nu's net income if it elects LIFO? Multiple Choice $595. $850. $680

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