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

Date		Description	Units	Unit Cost			Total Cost
June	1	Beginning	20	$	12.00		$	240.00
	11	Purchase	60		13.00			780.00
	24	Purchase	40		15.00			600.00
	30	Ending	44

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.)

2.

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

	FIFO
	LIFO
	Weighted Average Cost