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   820   If FIFO is elected   1,060     What is Nu's net income if it elects FIFO?   a. 480 b. 360 c. 1360 d. 180

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