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What is nueva net income if it elects fifo

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Reference no: EM132568528

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

Net sales 7,430

Cost of goods available for sale 5,650

Operating expenses 1,688

Effective tax rate 35%

Ending inventories:

If LIFO is elected 629

If FIFO is elected 818

Question 1: What is Nueva's net income if it elects FIFO? (Round your intermediate and final answer to the nearest whole dollar amount.)

Multiple Choice

Option 1: $591.

Option 2: $910.

Option 3: $469.

Option 4: $721.

Reference no: EM132568528

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