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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 $31$ of the current year, the accounting records provided the following information for product $2$ :

Units Unit Cost

Inventory, December $31,$ prior year $2, 950$ $ $11$

For the current year:

Purchase, April $11 8, 860 12$

Purchase, June $1 7, 960 17$

Sales $($ $ $55$ each $) 10, 840$

Operating expenses $($ excluding income tax expense $)$ $ $192, 500$

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.

$2 .$ Compute the difference between the pretax income and the ending inventory amount for the two cases.

pls do both parts!!!

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