Check my w Required information (The following information applies to the questions displayed below.) Emily...
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Accounting
Check my w Required information (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: Units Unit Cost Inventory, December 31, prior year 2,920 $15 For the current year: Purchase, April 11 8,980 16 Purchase, June 1 7,870 21 Sales ($59 each) 10,990 Operating expenses (excluding income tax expense) $194,500 2. Compute the difference between the pretax income and the ending Inventory amount for the two cases. Comparison of Amounts Case A Case B FIFO LIFO Difference Pretax income Ending inventory
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