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Spotter Corporation reported the following for June in its periodic Inventory records. Units Date Description June 1 Beginning 11 Purchase 24 Purchase 30 Ending Unit

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Spotter Corporation reported the following for June in its periodic Inventory records. Units Date Description June 1 Beginning 11 Purchase 24 Purchase 30 Ending Unit Cost $10.40 11.40 13.48 Total cost 5291.2e 456.89 428.80 Required: 1. Calculate the cost of ending Inventory and the cost of goods sold under the (a) FIFO, b;LIFO, and (c) weighted average cos methods. (Do not round your intermediate calculations. Round "Weighted Average Cost" to 2 decimal places.) Cost of Ending Cost of Goods Inventory Sol FIFO LIFO Weighted Average Cost 2. Which of the three methods will lead to reporting the highest net income? FIFO LIFO - Weighted Average Cost

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