Ultimate Copy Centre Ltd, uses laser printers. The company started the year with 100 containers of ink (weighted average cost of $9.00 each, FIFO cost of $8.70 each). During the year, Ultimate Copy Centre purchased 800 containers of ink at $10.10 each and sold 570 units for $24.00 each. The company paid operating expenses throughout the year, to a total of 53200 Ultimate Copy Centre's income statement-excluding the effects of income tax under each of the weighted average cost and FIFO inventory costing method is given. Ultimate Copy Centre is a corporation subject to a 21% income tax (Click the icon to view the income statement) Compute Ultimate Copy Cantre'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? Ultimate Copy Centre Ltd, uses laser printers. The company started the year with 100 containers of ink (weighted average cost of $9.00 each, FIFO cost of $8.70 each). During the year, Ultimate Copy Centre purchased 800 containers of ink at $10.10 each and sold 570 units for $24.00 each. The company paid operating expenses throughout the year, to a total of 53200 Ultimate Copy Centre's income statement-excluding the effects of income tax under each of the weighted average cost and FIFO inventory costing method is given. Ultimate Copy Centre is a corporation subject to a 21% income tax (Click the icon to view the income statement) Compute Ultimate Copy Cantre'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