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Nueva Company reported the following pretax data for its first year of operations. Net sales Cost of goods available for sale Operating expenses Effective tax

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Nueva 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 7,340 5,790 1,728 25% 618 798 What is Nueva's net income if it elects LIFO? Multiple Choice "O $620. $440. O $620. O $440. O $330. $465

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