Beck Inc. uses a periodic inventory system. At the end of the annual accounting period, December 31, 2015, the accounting records provided the following information for product 2:

	Units	Unit Cost
Inventory Dec 31, 2014	7300	$3
For the year 2015
Purchase, March 5	19,300	$7
Purchase, September 19	10,300	$9
Sale ($26 each)	8,300
Sale ($28 each)	16,300
Operating expenses (excluding income tax expense) = 503,000

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. (Loss amounts should be indicated with a minus sign.)

2.	Compute the difference between the pretax income and the ending inventory amount for the two cases. Pretax income= Ending Inventory=