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 2,820 Unit Cost $ 12 Inventory, December 31, prior year For the current year: Purchase, April 11 Purchase, June 1 Sales ($59 each) Operating expenses (excluding income tax expense) 8,940 7,840 10,940 $187,500 Required: 1. Prepare a separate income statement through pretax income that details cost of goods sold for (o) Case A: FIFO and (b) Case B:LIFO. EMILY COMPANY EMILY COMPANY Income Statement For the Year Ended December 31, current year Case A FIFO Case B LIFO Sales revenue Cost of goods sold: Goods available for sale 0 Cost of goods sold