The old typewriter rule was to use two spaces after a period, due to the nature of how spacing between letters worked (or didn't). That's how I learned on an electric typewriter in the mid-80s. When we took a computer course the next year, the word processing program would not allow two spaces, it would allow one space, then a second would create a weird triangle thing that we had to backspace to get rid of, which was annoying. So we all learned not to do this, and for bonus points, increased our typing speed a bit.
There's still a bit of a Holy War thing about this question, based on when you learned to type and whether or not it was a formal class or on your own.
xkcd has found the third way. Certainly would have made hitting the page requirements on class assignments a lot easier. ;)