4 Required information 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: Part 3 of 3 5 points Units 2,870 Unit Cost $14 8 01010 Inventory, December 31, prior year For the current year Purchase, April 11 Purchase, June 1 Sales ($56 each) Operating expenses (excluding income tax expense) 8,940 7,960 10,920 25 20 $188,000 eBook Print References 3. Which inventory costing method may be preferred for Income tax purposes? Which inventory costing method may be preferred for income tax purposes