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 FIF$0$ is elected

$2,810$

$2,440$

$830$

$20\%$

$860$

$1,110$

What is Nu's net income if it elects LIFO?

Multiple Choice

$$320$

$$400$

$$650$

$$520$