ABC Company employs a periodic inventory system and sells its inventory to customers for $16 per unit. ABC Company had the following inventory information available for May: May 1 Beginning inventory 1,400 units @ $8.90 cost per uni t May 3 May 8 May 13 May 18 May 20 May 24 May 30 Purchased 2,200 units @ $7.70 cost per unit Sold 1,900 units Purchased 3,300 units @ $9.20 cost per unit Sold 2,800 units Purchase 4,100 units @ $6.30 cost per unit Sold 1,500 units Purchased 2,000 units @ $8.10 cost per unit During May, ABC Company reported operating expenses of $14,00 0 and had an income tax rate of 38%. Calculate the amount of net income shown on ABC Company's inc ome statement for May using the LIFO method