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 Inventory, December 31, prior year 6,800 SB For the current year: Purchase, March 5 18,800 Purchase, September 19 9,800 Sale ($30 each) 8,680 Sale (532 each) 15,800 Operating expenses (excluding income tax expense) $398,000 6 2 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 Help Required information [The following information applies to the questions displayed below! Glvoly 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 Inventory, Decenber 31, prior year For the current year: Purchase, March 5 Purchase, September 19 9.800 Sale (538 each) Sale ($32 each) 15,800 Operating expenses (excluding income tax expense) $398,000 6,880 S8 18,800 6 8.000 3. Which inventory costing method may be preferred for income tax purposes? Which inventory costing method may be preferred for income tax purposes