Spotter Corporation reported the following for June in its periodic inventory records Date Description Units Unit Cost Total Cost June Beginning 16 8.40 $134.40 394.80 11 Purchase 24 Purchase 42 9.40 Ending 26 250.80 Required 1. Calculate the cost of ending inventory and the cost of goods sold under the (a) FIFO, (b) LIFO, and (c) weighted average cost methods. (Round your intermediate calculations and final answers to 2 decimal places.) Sold FIFO LIFO Weighted Average Cost 2 Which of the three methods will lead to reporting the highest net income? FIFO Weighted Average Cost