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Nueva Company reported the following pretax data for its first year of operations. Net sales 7,530 Cost of goods available for sale 5,700 Operating expenses
Nueva Company reported the following pretax data for its first year of operations.
Net sales 7,530
Cost of goods available for sale 5,700
Operating expenses 1,548
Effective tax rate 20 %
Ending inventories:
If LIFO is elected 633
If FIFO is elected 814
What is Nueva's net income if it elects FIFO? (Round your intermediate and final answer to the nearest whole dollar amount.)
Multiple Choice
$732.
$915.
$877.
$1,096.
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