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 Unit Cost $ 9 3,000 Inventory, December 31, prior year For the current year: Purchase, April 11 Purchase, June 1 Sales ($50 each) Operating expenses (excluding income tax expense) 9,000 7,000 10,000 10 15 $190,000 3. Which inventory costing method may be preferred for income tax purposes? Which inventory costing method may be preferred for income tax purposes