2 Required information Part 1 of 3 [The following information applies to the questions displayed below.] Emily Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information for product 2 10 points Unit Units Cost Skipped Inventory, December 31, prior year For the current year: Purchase, April 11 Purchase, June 1 Sales ($57 each) Operating expenses (excluding income tax expense) 2,990 $14 8,870 7,930 10,990 15 20 eBook $186,000 Hint Print Required: 1. Prepare a separate income statement through pretax income that details cost of goods sold for (a) Case A: FIFO and (b) Case B: LIFO. Reference EMILY COMPANY Income Statement For the Year Ended December 31, current year Case A Case B FIFO LIFO Cost of goods sold: Goods available for 0 0 sale Cost of goods sold