Beck Inc. 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: its Unit Cost 7,600 8 Inventory, December 31, prior year For the current year Purchase, March 5 Purchase, September 19 Sale ($29 each) Sale ($31 each) Operating expenses (excluding Income tax expense) 19,600 10.,600 8,600 16,600 $406.000 value: 3.75 points 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. (Loss amounts should be indicated with a minus sign.) BECK INC. Income Statement For the Year Ended December 31, current year Case A Case B FIFO LIFO ales revenue S 764,000 S 764,000 Cost of goods sold Beginning inventory Purchases $ 60,800 138,800 60.800 138,800 Goods available for sale 199,600 199,600 Ending inventory Cost of goods sold ross profit perating expenses Pretax income/loss