H5-7P Company employs a periodic inventory system and sells its inventory to customers for $31 per unit. H5-u7P Company's inventory records disclosed the following information for the month of October: October 1: October 4: October 9: October 17: October 19: October 26: October 29: October 30: Beginning inventory was 42,000 units @ $13.70 cost per unit Sold 27,000 units Purchased 19,000 units @ $23.40 cost per unit Sold 25,000 units Purchased 21,000 units @ $17.60 cost per unit Purchased 16,000 units @ $12.75 cost per unit Sold 24,000 units Purchased 22,000 units @ $15.60 cost per unit H5-7P Company's operating expenses for October totaled $388,000 and the October income tax rate was 33%. Calculate the amount of net income reported on 15-7P Company's income statement for October using the LIFO method