ssume Wilson Copy Center started the year with 100 containers of ink (average cost of S9.10 each, FIFO cost of S8.60 each, LIFO cost of S8.00 eachi. During the year, Wilson Copy Center purchased 800 containers of ink at $10.00

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Assume Wilson Copy Center started the year with 100 containers of ink (average cost of S9.10 each, FIFO cost of S8.60 each, LIFO cost of S8.00 eachi. During the year, Wilson Copy Center purchased 800 containers of ink at $10.00 and sold 600 units for $21.75 each. Wilson Copy Center paid operating expenses throughout the year, a total of S3,900. Ignore income taxes for this exercise. Prepare Wilson Copy Centers income statement for the current year ended December 31 under the average, 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 amcunts for each of the three required inventory methods

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