Ace Industries had the following inventory transactions occur during 2025:
Units Cost/unit
Feb. 1, 2025 Purchase 90 $90
Mar. 14, 2025 Purchase 155 $94
May 1, 2025 Purchase 110 $98
The company sold 255 units at $126 each and has a tax rate of 30%. Assuming that a periodic inventory system is used and
operating expenses of $2,500, what is the company's net income using FIFO? (rounded to the nearest dollar)
$4,186
$5,980
$3,654
$5,220