United Copy Centre Ltd. uses laser printers. The company started the year with 100 containers of ink (weighted average cost of $9.30 each, FIFO cost of $8.90 each). During the year, United Copy Centre purchased 600 containers of ink at $10.30 each and sold 590 units for $21.00 each. The company paid operating expenses throughout the year, a total of $3,200. United Copy Centre's income statement excluding the effects of income tax under each of the weighted-average-cost and FIFO inventory costing methods is given. United Copy Centre is a corporation subject to a 17% income tax. E (Click the icon to view the income statement.) Compute United Copy Centre's income tax expense under the weighted average cost and FIFO inventory costing methods. Which method would you select to (a) maximize income before tax and (b) minimize income tax expense? Sales revenue 12,390 $ 12,390 Cost of goods sold 5,994 5,937 Gross profit $ 6,396 $ 6,453 Operating expenses 3,200 3,200 $ Net income before tax 3,196 $ 3,253 $ Income tax expense Which method would you select to (a) maximize income before tax and (b) minimize income tax expense? (a) The income before taxes is maximized by using the method of inventory costing. (b) The income taxes are minimized by using the method of inventory costing. Enter any number in the edit fields and then continue to the next question. United Copy Centre Ltd. Income Statement For the Year Ended December 31, 2017 Weighted- Average cost FIFO Sales revenue $ 12,390 $ 5,994 12,390 5,937 Cost of goods sold Gross profit $ 6,396 3,200 6,453 3,200 Operating expenses 3,196 $ 3,253 Net income before tax