Question: Please Answer for FIFO & LIFO along with Average Cost! Corse Print Supplies, Inc., sells laser printers and supplies. Assume Corse started the year with

 Please Answer for FIFO & LIFO along with Average Cost! CorsePlease Answer for FIFO & LIFO along with Average Cost!

Corse Print Supplies, Inc., sells laser printers and supplies. Assume Corse started the year with 90 containers of ink (average cost of $8.50 each, FIFO cost of $8.90 each, LIFO cost of $7.80 each). During the year, the company purchased 720 containers of ink at $10.30 and sold 620 units for $19.75 each. Corse paid operating expenses throughout the year, a total of $4,050. Ignore income taxes for this exercise. Prepare Corse's income statement for the current year ended December 31 using the average-cost, 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.) Corse Print Supplies, Inc. Income Statement Year Ended December 31 Average Cost Sales revenue 12245 Cost of goods sold Gross profit Operating expenses 1 Net income

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