IaOG Company employs a periodic inventory system and sells its inventory to customers for $10 per unit. Tag Company had the following inventory information available for the month of May: May 1 May 6 May 8 May 14 May 19 May 23 May 27 May 29 Beginning inventory 370 units @ $8.40 cost per unit Purchased 280 units @ $2.45 cost per unit Sold 190 units Purchased 330 units @ $9.80 cost per unit Purchased 540 units @ $5.40 cost per unit Sold 250 units Sold 360 units Purchased 480 units @ $7.20 cost per unit During May, IaOG Company reported operating expenses of $800 and had an income tax rate of 30%. Calculate the amount of net income reported on IaOG Company's income statement for May using the weighted average method