ABC Company employs a periodic inventory system and sells its inventory to customers for $24 per unit. ABC Company had the following inventory information available for May: May 1 May 3 May 8 May 13 May 18 May 20 May 24 May 30 Beginning inventory 3,300 units @ $13 cost per unit Purchased 1,900 units @ $26 cost per unit Sold 2,100 units Purchased 2,500 units @ $18 cost per unit Sold 2,900 units Purchase 1,300 units @ $31 cost per unit Sold 900 units Purchased 2,000 units @ $19 cost per unit During May, ABC Company reported operating expenses of $5,000 and had an income tax rate of 35%. 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 sells its inventory to customers for $24 per unit. ABC Company had the following inventory information available for May: May 1 Beginning inventory 3,300 units (e) $13 cost per unit May 3 Purchased 1,900 units @ $26 cost per unit May 8 Sold 2,100 units May 13 Purchased 2,500 units \& $18 cost per unit May 18 Sold 2,900 units May 20 Purchase 1,300 units @ $31 cost per unit May 24 Sold 900 units May 30 Purchased 2,000 units @ $19 cost per unit During May, ABC Company reported operating expenses of $5,000 and had an income tax rate of 35%. Calculate the amount of net income shown on ABC Company's income statement for May using the LIFO meniod