fill in the blanks value 12.00 points Spotter Corporation reported the...
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Accounting
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value 12.00 points Spotter Corporation reported the following for June in its periodic inventory records Date Description Units Unit Cost Total Cost June 1 Beginning 249.20 $220.80 50 26 30 11 Purchase 24 Purchase 30 Ending 10.20 12.20 510.00 317.20 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.) Cost of Ending Inventory Cost of Goods Sold 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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