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 $ 12 6,400 Inventory, December 31, prior year For the current year: Purchase, March 5 Purchase, September 19 Sale ($29 each) Sale ($31 each) Operating expenses (excluding income tax expense) 10 6 18,400 9,400 8,400 15,400 $394,000 3. Which inventory costing method may be preferred for income tax purposes? Which inventory costing method may be preferred for income tax purposes