Watson Copy Center sells laser printers and supplies. Watson Copy Center started the year with 100 containers of ink (average cost of $8.90 each, FIFO cost of $9.00 each, LIFO cost of $7.80 each). During the year, Watson Center purchased 800 containers of ink at $9.80 and sold 620 units for $21.50 each. Watson Copy Center paid operating expenses throughout the year, a total of $5,000. Watson Copy Center's income statement-excluding effects of income tax under each of the average-cost, FIFO, and LIFO inventory costing methods is given. (Click the icon to view the income statement.) Watson Copy Center is a corporation subject to a 30% income tax. Compute Watson Copy Center's income tax expense under the average, FIFO, and LIFO inventory costing methods. Which method would you select to (a) maximize income before tax and (b) minimize income tax expense? (Round your answer to the nearest whole dollar.) Income Statement i Data Table Year Ended December 31 Average Cost FIFO LIFO Sales revenue $ 13,330 $ 13,330 $13,330 Watson Copy Center 6,014 5,996 6,076 Cost of goods sold Income Statement Gross profit $ Operating expenses 7,316 $ 5,000 7,334 $ 7,254 5,000 5,000 Year Ended December 31 Average Cost FIFO LIFO Net income before tax 2,316 $ 2,334 $ 2,254 Sales revenue $ 13,330 $ 13,330 $ 13,330 Cost of goods sold 6,014 5,996 6,076 Income tax expense Enter any number in the edit fields and then click Check Answer. parts remaining Gross profit 7,316 7,334 7,254 5,000 5,000 Operating expenses 5,000 2,316 $ 2,334 $ 2,254 Net income before tax Check Answer