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Prepare a separate income statement through pretax income that details cost of goods sold for a Case A: FIFO an B: LIFO.Emily Company uses a periodic inventory system. At the end of the annual accounting period, December of the current year, the accounting records provided the following information for product :
Units Unit Cost
Inventory, December prior year $
For the current year:
Purchase, April
Purchase, June
Sales $ each
Operating expenses excluding income tax expense $
Required:
Prepare a separate income statement through pretax income that details cost of goods sold for a Case A: FIFO and b Case B: LIFO.
Compute the difference between the pretax income and the ending inventory amount for the two cases.
pls do both parts!!!
