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 : Required: 1. Prepare a separate income statement through pretax income that details cost of goods sold for (a) Case A: FiFO and (b) Case B: LIFO. Required: 1. Prepare a separate income statement through pretax income that details cost of goods sold for (a) Case A:FIFO and (b) Case B: LIFO. Required information [The following information applies to the questions disp/ayed 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 : 2. Compute the difference between the pretax income and the ending inventory amount for the two cases. Required information [The following information applles 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 : 3. Which inventory costing method may be preferred for income tax purposes