Copy Center sells laser printers and supplies. Assume Watson Copy Center started the year with 100 containers of ink (average cost of $ 9.10 each, FIFO cost of $ 8.40 each, LIFO cost of $ 7.90 each). During the year, Watson Copy Center purchased 800 containers of ink at $ 10.00 and sold 570 units for $ 20.00 each. Watson Copy Center paid operating expenses throughout the year, a total of $ 5500. Ignore income taxes for this exercise. Prepare Watson Copy Center's income statement for the current year ended December 31 under the average, FIFO, and LIFO inventory costing methods. Include a complete statement heading.

Watson Copy Center sells laser printers and supplies. Assume Watson Copy Center started the year with 100 containers of ink (average cost of $9.10 each, FIFO cost of $8.40 each, LIFO cost of $7.90 each. During the year, Watson Copy Center purchased 800 contalners of Ink at $10.00 and sold 570 units for $20.00 each. Watson Copy Center pald operating expenses throughout the year, a total of $5,500. Ignore income taxes tor this exercise Prepare Watson Copy Centers Income statement tor the current year ended December 31 under the average, FIFO, and LIFO Inventory costing methoos. Include a complete statement heading Complete the income statement by selecting the appropriate heading and income staterment labels, and then calculating the amounts for each of the three required inventory methods. (Calculate unit cosis to the nearest cent. Round all other calculations to the nearest whole dollar.)