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 310 the accounting records provided the following information for product 2: Units Unit Cost $12 8,000 Inventory, December 31, prior year For the current year: Purchase, March 5 Purchase, September 19 Sale ($28 each) Sale ($30 each) Operating expenses (excluding income tax expense) 10 6 20,000 11,000 9,000 17,000 $410,000 Required: 1. Prepare a separate income statement through pretax income that details cost of goods sold for (a) Case A: FI LIFO. (Loss amounts should be indicated with a minus sign.) Required: 1. Prepare a separate income statement through pretax income that details cost of goods sol LIFO. (Loss amounts should be indicated with a minus sign.) GIVOLY INC. Income Statement For the Year Ended December 31, current year Case A FIFO Case B LIFO Sales revenue Cost of goods sold: Beginning inventory Purchases tes 0 0 Goods available for sale Ending inventory Cost of goods sold Gross profit Operating expenses Pretax income/loss