W Ch.7 i Saved Help Save & Exit Check my [The following information applies to the questions displayed below.] 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 product 2: Units Unit Cost $ 13 6,900 Inventory, December 31, prior year For the current year: Purchase, March 5 Purchase, September 19 Sale ($29 each) Sale ($31 each) Operating expenses (excluding income tax expense) 11 7 18,900 9,900 7,900 15,900 $399,000 es 2. Compute the difference between the pretax income and the ending inventory amounts for the two cases. Comparison of Amounts Case A Case B FIFO LIFO Difference Pretax income Ending inventory Check Required information [The following information applies to the questions displayed below.) 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 product 2: Units Unit Cost $ 13 6,900 Inventory, December 31, prior year For the current year: Purchase, March 5 Purchase, September 19 Sale ($29 each) Sale ($31 each) Operating expenses (excluding income tax expense) 11 7 18,900 9,900 7,900 15,900 $399,000 3. Which inventory costing method may be preferred for income tax purposes? Which inventory costing method may be preferred for income tax purposes