Question 14 Nu Company reported the following pretax data for its first year of operations. Net sales 2,800 Cost of goods available for sale 2,500 Operating expenses 880 Effective tax rate 25% Ending inventories: If LIFO is elected If FIFO is elected What is Nu's net income if it elects LIFO? $288 O $180 $240 820 1,060 O $480 2.5 pts

Nu Company reported the following pretax data for its forst year of operations. What is Nu's net income if it elects LIFO? $288 3700 $240 $460