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: Units 3,000 Unit Cost $ 9 Inventory, December 31, prior year For the current year: Purchase, April 11 Purchase, June 1 Sales ($50 each) Operating expenses (excluding income tax expense) 9,000 7,000 10,000 10 15 $190,000 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. EMILY COMPANY Income Statement For the Year Ended December 31, current year Case A FIFO Case B LIFO nces Cost of goods sold 0 0 Goods available for sale Cost of goods sold aztomheducation.com e Homework Het Required: 1. Prepare a separate come statement through peta income to cost of goods sold for Case LIFO EMILY COMPANY case A LO - Coute 9000 Good CON! 0 Pro Next > . s 23 91 $ 4 X 5 & 7 1 0 6 9 8 R T P Y U o F G H J KL