Chapter 7 Homework 3 E7-4 Calculating Cost of Ending Inventory and Cost of Goods Sold under Periodic FIFO, LIFO, and Weighted Average Cost [LO 7-3) 148 Spotter Corporation reported the following for June in its periodic inventory records une 1 Beginning 20 $10. 11 Puzehase 11.0 30 Ending Required: 1 Calculate the cost of ending inventory and the cost of goods sold under the 6a and the cost of goods sold under the (a) FIFO. (b)LIFO, and (c) weighted average cost methods. (Do not round your intermediate calculations. Round Weighted Average Cost" to 2 decimal places ) FIFO LIFO Weighted Average Cost 2. Which of the three methods will lead to reporting the highest net income? LIFO 59-17 FS