Sheffield Industries had the following inventory transactions occur during 2020:

		Units	Cost/unit
2/1/20	Purchase	55	$40
3/14/20	Purchase	90	$42
5/1/20	Purchase	66	$46

The company sold 140 units at $60 each and has a tax rate of 40%. There is no beginning inventory. Assuming that a periodic inventory system is used, what is the companys after-tax income using FIFO? (rounded to whole dollars)

$2630

$2256

$1578

$1411