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

Net sales	7,410
Cost of goods available for sale	5,760
Operating expenses	1,578
Effective tax rate	15%
Ending inventories:
If LIFO is elected	618
If FIFO is elected	805

What is Nueva's gross profit ratio if it elects FIFO?

Note: Round your answer to two decimal places e.g., 0.1234 as 12.34%.

54.43%

33.13%

61.21%

30.61%

*

A company adopted the dollar-value LIFO inventory method on January 1, 2024. In applying the LIFO method, the company uses internal cost indexes and the multiple-pools approach. The following data were available for Inventory Pool No. 3 for the two years following the adoption of LIFO:

Year	Ending Inventory		Cost Index
	At Year-End	At Base Year Cost
1/1/2024	$ 308,000	$ 308,000	1.00
12/31/2024	334,360	321,500	1.04
12/31/2025	442,680	357,000	1.24

Under the dollar-value LIFO method, the inventory on December 31, 2025, should be:

$366,060.

$357,000.

$357,540.

None of the other answer choices are correct