E7-4 Calculating Cost of Ending Inventory and Cost of Goods Sold under Periodic FIFO, LIFO, and Weighted Average Cost [LO 7-3]

lid Anime - ...go So Make Images, Vide.. Desmos | Graphing. (4) Jah Khalib - Men. Sony Crackle - Wat. Homework Chot 7 8 Saved Help Save & Exit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to quest 2 E7-4 Calculating Cost of Ending Inventory and Cost of Goods Sold under Periodic FIFO, LIFO, and Weighted Average Cost [LO 7-3] 2.5 points Spotter Corporation reported the following for June in its periodic inventory records. Date Description Units Unit Cost June 1 Beginning 20 $10.80 Total Cost $216.00 11 Purchase 66 11. 80 778.80 24 Purchase 34 13. 80 469 . 20 30 Ending 38 Required: 1. Calculate the cost of ending inventory 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.) x Answer is complete but not entirely correct. Cost of Cost of Ending Goods Inventory Sold FIFO $ 516.40 $ 947.60 LIFO 278.00 x $ 516.40 X Weighted Average 463.60 x Cost 1,000.40 x $ 2. Which of the three methods will lead to reporting the highest net income? Graw O M 9 P Type here to search C U ~ 4 ENG