[The following information applies to the questions displayed below.] Emily Company uses a periodic inventory system....

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[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: Unit Units Cost Inventory, December 31, prior year For the current year: Purchase, April 11 Purchase, June 1 Sales ($57 each) 2,890 $15 8,930 16 7,840 21 10,810 Operating expenses (excluding income tax expense) $187,500 [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: Unit Units Cost Inventory, December 31, prior year For the current year: Purchase, April 11 Purchase, June 1 Sales ($57 each) 2,890 $15 8,930 16 7,840 21 10,810 Operating expenses (excluding income tax expense) $187,500