Question 11 6 pts THE Company employs a periodic inventory system and sells its inventory to customers for $10 per unit. THE 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 280 units @ $3.80 cost per unit Purchased 350 units @ $4.90 cost per unit Purchased 240 units @ $4.10 cost per unit Sold 410 units Purchased 400 units @ $5.75 cost per unit Sold 270 units Sold 120 units Purchased 230 units @ $3.90 cost per unit The amount of gross profit reported on THE Company's income statement for May using the LIFO method was equal to: $3,066 $3,248 $3,476 $3,484 $3,712 May 23 May 27 May 29 Sold 270 units Sold 120 units Purchased 230 units @ $3.90 cost per unit The amount of gross profit reported on THE Company's income statement for May using the LIFO method was equal to: $3,066 $3,248 $3,476 $3,484 $3,712 $3,894 $4,106 $4,288 $4,524 $4,730 none of the above choices are correct