# +XHBlackboard LearnXEasy Access to Internet ServicesCCsu.blackboard.com/webapps/blackboard/content/contentWrapper.jsp?course_id- 43047_1&displayName-McGCCentral Connecticut State UniversityMcGraw-Hill CONNECT SEC 09Spotter Corporation reported the following for June in its periodic inventory recordsTotal Cost\$172.80572.40352.80Unit Cost\$ 9.6010.6012.60Units18542832DescriptionBeginningDateJune 1Purchase11Purchase24Ending30Required: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 2decimal places.)Cost of EndingInventoryCost of GoodsSoldFIFOLIFOWeighted Average Cost2. Which of the three methods will lead to reporting the highest net income?FIFODLIFOWeighted Average Cost

Question
Asked Oct 13, 2019
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Part 1

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Step 1

a) FIFO method:

Step 2

b)

LIFO method:

Step 3

c)

Weighted average method...

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