Required information [The following information applies to the questions displayed below.) Givoly Inc. 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 $10 7,800 Inventory, December 31, prior year For the current year: Purchase, March 5 Purchase, September 19 Sale ($26 each) Sale ($28 each) Operating expenses (excluding income tax expense) 8 4 19,800 10,800 8,800 16,800 $408,000 2. Compute the difference between the pretax income and the ending inventory amounts for the two cases. Comparison of Amounts Case A Case B FIFO LIFO Difference Pretax income Ending inventory 3. Which inventory costing method may be preferred for income tax purposes? Which inventory costing method may be preferred for income tax purposes