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4 Required information Part 2 of 3 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.] 12.5 Emily Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current points year, the accounting records provided the following information for product 2: 01:19:31 Units Unit Cost Skipped Inventory, December 31, prior year 2, 890 $11 For the current year: Purchase, April 11 8 , 800 12 Purchase, June 1 7, 910 17 Sales ($52 each) 10, 880 Operating expenses (excluding income tax expense) $ 185 , 500 eBook Hint E7-7 Part 2 References 2. Compute the difference between the pretax income and the ending inventory amount for the two cases. Comparison of Amounts Case A Case B FIFO LIFO Difference Pretax income Ending inventory