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Inventory, December 31, prior year For the current year: 2,930 $13 Purchase, April 11 Purchase, June 1 Sales ($56 each) Operating expenses (excluding income tax

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Inventory, December 31, prior year For the current year: 2,930 $13 Purchase, April 11 Purchase, June 1 Sales ($56 each) Operating expenses (excluding income tax expense) 8,890 7,990 10,960 16 $190,000 value: Required information 10.00 points 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. BROADHEAD COMPANY Income Statement For the Year Ended December 31, current year Case A FIFO Case B LIFO Sales revenue $ 613,760 $ 613,760 Cost of goods sold: Beginning inventory Purchases Purchases $ 38,090 97,790 127,840 263,720 38,090 97,790 127,840 263,720 Goods available for sale Ending inventory Cost of goods sold Gross profit Operating expenses Pretax income

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