Hopkins Company reported the following information related to inventory and sales: Units Unit Cost Beginning inventory 2,000 $20 Purchase No. 1 14,000 22 Purchase No. 1 4,000 23 Sales 16,000 units at $35 per unit. Required: (A) Compute the following amounts assuming a periodic inventory system: (10 Points) Ending Inventory Sales Revenue Inventory Costing Method Weighted Average FIFO $560,000 $560,000 $560,000 Cost of Goods Sold LIFO (B) In times of rising unit costs, how does pretax income using FIFO compare to pretax income using LIFO? Explain your answer.