Nu Company reported the following pretax data for its first year of operations Net sales 2,960 Cost of goods available for sale 2,430 Operating expenses 730 Effective tax rate 40 Ending inventories If LIFO is elected 970 If FIFO is elected 1,120 What is Nu's net income if it elects FIFO

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Nu Company reported the following pretax data for its first year of operations. Net sales 2,960 Cost of goods available for sale 2,430 Operating expenses

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


Net sales	2,960
Cost of goods available for sale	2,430
Operating expenses	730
Effective tax rate	40	%
Ending inventories:
If LIFO is elected	970
If FIFO is elected	1,120

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

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