Spotter Corporation reported the following for June in its periodic inventory records.

Date		Description	Units	Unit Cost			Total Cost
June	1	Beginning	22	$	11.40		$	250.80
	11	Purchase	45		12.40			558.00
	24	Purchase	37		14.40			532.80
	30	Ending	41

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. (Round your intermediate calculations and final answers to 2 decimal places.)

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2.

Which of the three methods will lead to reporting the highest net income?

	FIFO
	LIFO
	Weighted Average Cost