Nu Company reported the following pretax data for its first year of operations.

Net sales		2,970
Cost of goods available for sale		2,370
Operating expenses		700
Effective tax rate		30	%
Ending inventories:
If LIFO is elected		860
If FIFO is elected		1,090

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

Multiple Choice

• $1,690.

• $990.

• $693.

• $532.