please explain all parts
how weighted average cost and FIFO is calculated
Copy Can Tho can with concern och the year CC Constantemente alle into two decimales de theast wiele Un Centre Lid Fathew Weigh Are out OM UN son 10 21 Theory Ceyh FONI hares who Cepy Centre Tot 2070 Weight Average Cost Cook TO 008 We OSCE cm any number the enten All parts showing D 55-4 (similar to) Question Help Uniti Copy Centre Lid uses laser printers. The company started the year with 104 containers of ink (weighted average cost of 900 each FIFO cost of 58 90 each) During the year, Uniti Copy Centre purchased 720 containers of ink at $9.90 each and sold 570 unts for $2200 each. The company and operating expenses throughout the year to a total of $3,250 Unit Copy Centre is not subject to income tax Propare Unit Copy Centre Ltd's income statement for the year ended December 31 2000, under the weighted average and FIFO inventory costing methods assuming the periodic system is used include a complete statement heading Complete the income statement by selecting the appropriate heading and income statement labels and then cakulating the amounts for each of the two required inventory methods. (Calculate unit costs to two decimal places. Round all other calculations to the nearest whole dollar) Uniti Copy Centre Ltd. tricome Statement For the Year Ended December 31, 2020 FIFO Weighted Average Cost 12540 5.500 Sastovanie Gost of goods sold Gross profit Operating expenses 5. 3.250 5 5 Net income 3710 Score: 2.06 of 5 pts 3 of 6 (6 complete) HW Score: 55.29%, 11.06 of 20 pts S5-4 (similar to) Question Help Until Copy Centro Lid uses laser printers. The company started the year with 104 containers of ink (weighted average cost of $9.00 each, FIFO cost of $8 go each) During the year, Uniti Copy Centre purchased 720 containers of ink at 89 90 each and sold 570 units for $22.00 each. The company paid operating expenses throughout the year to a total of $3,250. Unuta Copy Centre is not subject to income tax Propere Unit Copy Centre Lid income statement for the year ended December 31, 2020, under the weighted average and FIFO inventory costing methods assuming the periodic system is used include a comploto statomon trading Incor Complete the income statement by selecting the appropriate bonding and income statement labels and then calculating the amounts for each of the two required Inventory methods (Calculate unit costs to two decimal placen, Round all other calculations to the nearest whole dollar) Unit Copy Centre Ltd Income Statement For the Younded December 31, 2020 Weighted Average Cost FIFO Sales revendo 125.00 Cost of goods sold 15 500 Grossbron 5 3.000 3.250 Operating expenses 3.710 Notcom
