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 CostInventory, December 31, prior year 7,900 $ 11 For the current year: Purchase, March 5 19,900 9 Purchase, September 19 10,900 5 Sale ($27 each) 8,900 Sale ($29 each) 16,900 Operating expenses (excluding income tax expense) $409,000 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 amounts for the two cases. Comparison AmountsCase A Case BFIFO LIFO DifferencePretax IncomeEnding Inventory3. Which inventory costing method may be preferred for income tax purposes?

Swathmore clothing corporation grants its customers 30 days' credit. the company uses the allowance method for its uncollectible accounts receivable. during the year, a monthly bad debt accrual is made by multiplying 3% times the amount of credit sales for the month. at the fiscal year-end of december 31, an aging of accounts receivable schedule is prepared and the allowance for uncollectible accounts is adjusted accordingly. at the end of 2012, accounts receivable were dollar 586.000 and the allowance account had a credit balance of dollar 50,000. accounts receivable activity for 2013 was as follows: the company's controller prepared the following aging summary of year-end accounts receivable: prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year. (if no entry is required for a particular event, select "no journal entry required" in the first account field.) prepare the necessary year-end adjusting entry for bad debt expense. (if no entry is required for an event, select "no journal entry required" in the first account field.) what is total bad debt expense for 2013? calculate the amount of accounts receivable that would appear in the 2013 balance sheet?