Vega Corp. reports the following pretax data for the first year of its operations: Net sales Cost of goods available for sale Operating expenses Effective tax rate Ending inventories: If LIFO is elected If FIFO is elected 2,970 2,390 710 15% 880 1,120 What is Vega Corp.'s gross profit margin (rounded to the nearest whole percentage point) if it uses LIFO? Multiple Choice 62% 49% 57% 28%