ABC Company employs a periodic inventory system and sel1s its inventory to customers for $28 per unit. ABC Company reported the following inventory information for the month of May: May 1 Beginning inventory 5,100 units @ $11 cost per unit May 3 Purchased 2,200 units e $18 cost per unit May 11 Sold 4,300 units May 16 Purchased 2,400 units a $16 cost per unit May 19 Sold 2,500 units May 22 Purchased 3,100 units @$22 cost per unit May 26 Sold 1,900 units May 28 Purchased 1,200 units @$14 cost per unit ABC Company reported operating expenses of 934,090 for May and they had an income tax rate of 37%. Calculate the amount of net income shown on ABC Company's income statement for May using the LIFO method. ABC Company employs a periodic inventory system and sel1s its inventory to customers for $28 per unit. ABC Company reported the following inventory information for the month of May: May 1 Beginning inventory 5,100 units @ $11 cost per unit May 3 Purchased 2,200 units e $18 cost per unit May 11 Sold 4,300 units May 16 Purchased 2,400 units a $16 cost per unit May 19 Sold 2,500 units May 22 Purchased 3,100 units @$22 cost per unit May 26 Sold 1,900 units May 28 Purchased 1,200 units @$14 cost per unit ABC Company reported operating expenses of 934,090 for May and they had an income tax rate of 37%. Calculate the amount of net income shown on ABC Company's income statement for May using the LIFO method