Waterway Industries had the following inventory transactions occur during 2020: Units Cost/unit 2/1/20 Purchase 59 $41 5/1/20 3/14/20 Purchase 89 Purchase $49 70 $50 The company sold 140 units at $70 each and has a tax rate of 40%. There is no beginning inventory. Assuming that a periodic inventory system is used, what is the company's gross profit using LIFO? (rounded to whole dollars) $2870 $3179 O $6388 $6930 MacBook Air