He 4 Part 2 of 3 Required information E7-7 (Algo) Analyzing and Interpreting the Financial Statement Effects of LIFO and FIFO LO7-2, 7-3 [The following information applies to the questions displayed below) 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: 12.5 points Unita Unit Coat eBook 2.890 #10 Inventory, December 31, prior year For the current years Purchase, April 11 Purchase, June 1 Sales (552 each) Operating expenses (excluding income tax expense) 8.800 7.910 10.80 12 17 Hint $185,500 ol References E7-7 Part 2 2. Compute the difference between the pretax income and the ending inventory amount for the two cases. Comparison of Amounts Case A Case FIFO LIFO Difference Pretax income Ending inventory G He 4 Part 2 of 3 Required information E7-7 (Algo) Analyzing and Interpreting the Financial Statement Effects of LIFO and FIFO LO7-2, 7-3 [The following information applies to the questions displayed below) 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: 12.5 points Unita Unit Coat eBook 2.890 #10 Inventory, December 31, prior year For the current years Purchase, April 11 Purchase, June 1 Sales (552 each) Operating expenses (excluding income tax expense) 8.800 7.910 10.80 12 17 Hint $185,500 ol References E7-7 Part 2 2. Compute the difference between the pretax income and the ending inventory amount for the two cases. Comparison of Amounts Case A Case FIFO LIFO Difference Pretax income Ending inventory G