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Nueva Company reported the following pretax data for its first year of operations. Net sales 7,370 Cost of goods available for sale 5,730 Operating expenses

Nueva Company reported the following pretax data for its first year of operations. Net sales 7,370 Cost of goods available for sale 5,730 Operating expenses 1,548 Effective tax rate 15% Ending inventories: If LIFO is elected 637 If FIFO is elected 818 What is Nueva's net income if it elects FIFO

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