Givoly Incorporated 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 : 1. Prepare a separate income statement through pretax income that detalls cost of goods sold for (a) Case A.F/FO and (b) Case B: LIFO. 2. Compute the difference between the pretax income and the ending inventory amounts for the two cases. 3. Which inventory costing method may be preferred for income tax purposes? GIVOLY INCORPORATED Income Statement For the Year Ended December 31, current year \begin{tabular}{|l|c|c|c|} \hline \multicolumn{1}{|c|}{} & \multicolumn{3}{c|}{ Comparison of Amounts } \\ \cline { 2 - 4 } & Case A & Case B & Difference \\ \cline { 2 - 4 } & FIFO & LIFO & \\ \hline Pretax income & & & \\ \hline Ending inventory & & & \\ \hline \end{tabular} Which inventory costing method may be preferred for income tax purposes