Beta Manufacturing Company uses the perpetual inventory system and sells widgets. The company's inventory records show the following transactions for the month of June:

• June 1: Beginning inventory of 500 widgets at $10 each
• June 10: Purchased 1,000 widgets at $12 each
• June 20: Sold 800 widgets
• June 25: Purchased 700 widgets at $14 each
• June 30: Sold 600 widgets

Compute the cost of goods sold and ending inventory balance for June using the following cost flow assumptions: FIFO, LIFO, and weighted average cost. Discuss how each method affects reported inventory costs and net income.