E7-4 Calculating Cost of Ending Inventory and Cost of Goods Sold under Periodic FIFO, LIFO, and Weighted Average Cost [LO 7-3] Spotter Corporation reported the following for June in its periodic Inventory records bate Description Units Unit Cost June 1 Beginning 15 $9.00 11 Purchase 30 10.00 24 Purchase 25 12.00 30 Ending Total Cost $135.00 300.00 300.00 Required: 1. Calculate the cost of ending inventory and the cost of goods sold under the (0) FIFO, (D) LIFO, and (c) weighted average cost methods (Do not round your intermediate calculations. Round "Weighted Average Cost" to 2 decimal places.) Cost ol Ending Cont of Goods Inventory Sold FIFO LIFO Weighted Average Cost 2. Which of the three methods will lead to reporting the highest net income? FIFO OLIFO O Weighted Average Cost