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Need original answers, copied answers will be reported to moderators! CoursHeroTranscribedText: [The following information...

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Accounting

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CoursHeroTranscribedText: [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, 830 $ 12 For the current year: Purchase, April 11 8, 950 13 Purchase, June 1 7,900 18 Sales ($53 each) 10, 860 Operating expenses (excluding income tax expense) $193, 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. EMILY COMPANY 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

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