ccolly Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the ccounting records provided the following information for product 2 . 1. Prepare a separate income statement through pretox income that details cost of goods sold for (o) Case A: FIFO and (b) Cose B: LIFO 2. Compute the difference between the pretax income and the ending inventory amount for the two cases: 3. Which inventory costing method moy be preferted for income tax purposes? Complete this question by entering vour answers in the tabs below. Prepare a separate income statement through pretax income that details cast of poods sold for (a) Case A: FiFO and (b) Cise B: LIFO. Prepare a separate income statement through pretax income that details cost of goods sold for (a) Case A: FIFO and (b) Case B: LIFO