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Boyd Print Supplies, Inc., sells laser printers and supplies. Assume Boyd started the year with...

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Boyd Print Supplies, Inc., sells laser printers and supplies. Assume Boyd started the year with 100 containers of ink (average cost of $8.70 each, FIFO cost of $8.80 each, LIFO cost of $7.70 each). During the year, the company purchased 600 containers of ink at $10.10 and sold 580 units for $21.50 each Boyd paid operating expenses throughout the year, a total of $5,000. Ignore income taxes for this exercise. Prepare Boyd'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 amounts tor each or me tree requirea inventory menoas. (Caicurare un costs to the nearest cent Round all other calculations to the nearest whole dollar) Boyd Print Supplies, Inc. income Statement Year Ended December 31 FIFO Sales revenue Average Cost 12,470 870.870 LIFO 12.470 12.470 Cost of goods sold Gross profit Operating expenses 12,482 5.500 Net income

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