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Prepare a separate income statement through pretax income that details cost of goods sold for $($a$)$ Case A: FIFO an B: LIFO.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 $2$:

Units Unit Cost

Inventory, December $31,$ prior year $2,950$ $ $11$

For the current year:

Purchase, April $118,86012$

Purchase, June $17,96017$

Sales $($$$55$ each$)10,840$

Operating expenses $($excluding income tax expense$)$ $ $192,500$

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.

$2.$ Compute the difference between the pretax income and the ending inventory amount for the two cases.

pls do both parts!!!