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Nueva Company reported the following pretax data for its first year of operations. Net sales7,430Cost of goods available for sale5,650Operating expenses1,688Effective tax rate35%Ending inventories:If LIFO
Nueva Company reported the following pretax data for its first year of operations.
Net sales7,430Cost of goods available for sale5,650Operating expenses1,688Effective tax rate35%Ending inventories:If LIFO is elected629If FIFO is elected818
What is Nueva's net income if it elects FIFO?(Round your intermediate and final answer to the nearest whole dollar amount.)
Multiple Choice
- $591.
- $910.
- $469.
- $721.
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