(The following information applies to the questions displayed below.) Gerry 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 one of their best selling products: Units 7,300 Unit Cost $11 Inventory, December 31, prior year For the current year: Purchase, March 5 Purchase, September 19 Sale ($26 each) Sale ($28 each) Operating expenses (excluding income tax expense) 9 5 19,300 10,300 8,300 16,300 $403,000 Required: 1. Prepare a separate income statement through pretax income that details cost of goods sold for (a) Case A: FIFO and Case B:LIFO. (Loss amounts should be indicated with a minus sign.) GIVOLY INC. Income Statement For the Year Ended December 31, current year Case A Case B FIFO LIFO Cost of goods sold: Goods available for sale Cost of goods sold Pretax income/loss