of method Riyadh Int. is a retailer dealing in a single product. Beginning invertory at 1 January of this zero, operating expenses for this same year are $ 5000. The following purchases are made this year. year is Per Unit Cost Units 100 January $10 $1,000 March 300 $11 $3,300 600 $12 $7,200 June October 300 $14 $4,200 December 500 $15 $7,500 Total 1,800 $23,200 Ending inventory at 31 December is 800 units. Determine net income for this year under FIFO inventory methods. Assume a sales price of $ 25 per Unit and ignore income taxes