E$7-7($Algo$)$ Analyzing and Interpreting the Financial Statement Effects of LIFO and FIFO LO$7-2,7-3$

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 $2$ :

$\backslash$table$[[$Inventory$,$ December $31,$ prior year,Units Unit Cost,$],[$For the current year:,$2,850,$$$13$