Swift industries had the following inventory transactions occur

2/1/20 Purchases; units-57, cost/unit-48

3/14/20 Purchase; units-92, cost/unit-40

5/1/20 Purchase; units-66, cost/unit-50

The company sold 160 units at $70 each and has a tax rate of 30%. There is no beginning inventory, and no expenses other than Cost of Goods Sold and Income Tax Expense. Assuming that a periodic inventory system is used, what is the companys after tax income using LIFO?

1. 3066
2. 2898
3. 4140
4. 4380