Question: Umber Copy Centre Ltd uses laser printers. The company started the year with 108 containers of ink (weighted average cost of $9.10 each FIFO cost

Umber Copy Centre Ltd uses laser printers. The company started the year with 108 containers of ink (weighted average cost of $9.10 each FIFO cost of $9.00 810 units for $20.00 each. The company paid operating expenses throughout the year, to a total of $3,150 Umber Copy Centre is not subject to income tax Prepare Umber Copy Centre Lid's income statement for the year ended December 31, 2020, under the weighted average and FIFO inventory costing methods Complete the income statement by selecting the appropriate heading and income statement labels and then calculating the amounts for each of the two required the nearest whole dollar.) ed-average cost of S9 10 each, FIFO cost of $9.00 each) During the year, Umber Copy Centre purchased 740 containers of ink at $9 80 each and sold mber Copy Centre is not subject to income tax hted average and FIFO inventory costing methods assuming the periodic system is used include a complete statement heading calculating the amounts for each of the two required inventory methods (Calculate unit costs to two decimal places. Round all other calculations to
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