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: Unit Units. Cost Inventory, December 31, prior year For the current year: Purchase, April 11 Purchase, June 1 Sales ($50 each) 3,000 $ 9 9,000 10 7,000 15 10,000 Operating expenses (excluding income tax expense). $190,000