Nueva Company reported the following pretax data for its first year of operations. Net sales...
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Accounting
Nueva Company reported the following pretax data for its first year of operations. Net sales 7,520 Cost of goods available for sale 5,730 Operating expenses 1,578 Effective tax rate 20% Ending inventories: If LIFO is elected 633 If FIFO is elected 813 What is Nueva's net income if it elects FIFO? Note: Round your intermediate and final answer to the nearest whole dollar amount.
1. $820
2. $845
3. $676
4. $1,025
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