Seca Nueva Company reported the following pretax data for its first year of operations. Help...
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Seca Nueva Company reported the following pretax data for its first year of operations. Help S. Net sales Cost of goods available for sale Operating expenses Effective tax rate Ending inventories: If LIFO is elected If FIFO is elected 7,520 5,880 1,773 20% 663 843 What is Nueva's net income if it elects LIFO? Multiple Choice $530 $424 $710
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