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Print Supplies, Inc., sells laser printers and supplies. Assume Jefferson started the year with 1 0 0 containers of ink ( average cost of $
Print Supplies, Inc., sells laser printers and supplies. Assume Jefferson started the year with containers of inkaverage cost of $ each FIFO cost of $ each LIFO cost of $ each During the year, the company purchased containers of ink at $ and sold units for $ each. Jefferson paid operating expenses throughout the year, a total of $ Ignore income taxes for this exercise.
Prepare Jeffersons income statement for the current year ended December using the averagecost FIFO, and LIFO inventory costing methods. Include a complete statement heading. Complete the income statement by selecting the appropriate heading and income statement labels, and then calculating the amounts for each of the three required inventory methods.Calculate unit costs to the nearest cent. Round all other calculations to the nearest whole dollar.
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