4 Required information [The following information applies to the questions displayed below.] Part 3 of 3 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: Unit Units 5 points Inventory, December 31, prior year For the current year: Purchase, April 11 Purchase, June 1 Sales ($51 each) Cost 2,860 $11 8,950 12 7,800 17 10,850 Operating expenses (excluding income tax expense) $194,000 eBook Print 3. Which inventory costing method may be preferred for income tax purposes? References Which inventory costing method may be preferred for income tax purposes