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 Beginning inventory 280 units @ $3.80 cost per unit May 6 May 8 May 14 May 19 May 23 May 27 May 29 Purchased 400 units @ $5.60 cost per unit Purchased 240 units @ $4.10 cost per unit Sold 410 units Purchased 350 units @ $4.90 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 FIFO method was equal to: $3,104 O $3,220 O $3,386 O $3,514 O $3,680 O $3,796 O $4,204 O $4,320