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Nu Company Reported the Following Pretax Data for Its First

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Nu Company reported the following pretax data for its first year of operations. Nu Company reported the following pretax data for its first year of operations.   - What is Nu's gross profit ratio if it elects LIFO? A)  80%. B)  49%. C)  40%. D)  5%.
- What is Nu's gross profit ratio if it elects LIFO?

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