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Spotter Corporation reported the following for June in its periodic Inventory records. Data Jane Description Beginning Unita ita total cont unit cost Unit coat 500.00

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Spotter Corporation reported the following for June in its periodic Inventory records. Data Jane Description Beginning Unita ita total cont unit cost Unit coat 500.00 522.00 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.) Cost of Ending Cost of Goods Inventory LIFO Weg Average Cost 2. Which of the three methods will lead to reporting the highest net income? FIFO OLIFO Weighted Average Cost

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