Required information {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: Units 2,890 Unit Cost $ 12 Inventory, December 31, prior year For the current year: Purchase, April 11 Purchase, June 1 Sales ($50 each) Operating expenses (excluding income tax expense) 8,890 7,910 10,890 13 18 $193,500 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 EMILY COMPANY Income Statement For the Year Ended December 31, current year Case A FIFO Gase B LIFO Cost of goods sold 0 0 Goods available for sale Cost of goods sold