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Mower Blower Sales Co. started business on January 20, 2019. Products sold were snow blowers and lawn mowers. Each product sold for $350. Purchases during

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Mower Blower Sales Co. started business on January 20, 2019. Products sold were snow blowers and lawn mowers. Each product sold for $350. Purchases during 2019 were as follows: Bo's 16@$ 202 46@ 195 270 197 15182 January 21 February February 28 March 13 April May 22 June June 20 August 15 September 20 November 7 20 $212 45 220 400 221 57 230 19 220 20 212 189292 The December 31, 2019, inventory included 10 blowers and 26 mowers. Assume the company uses a periodic inventory system, Required: 6-1. Compute ending Inventory valuation at December 31, 2019, under the FIFO and UFO cost flow assumptions. FIFO LIFO Blowers Mowers wyn. 0-1. Compute ending inventory valuation at December 31, 2019, under the FIFO and LIFO cost flow assumptions FO Blowers Mowers 6-2. Is there any difference in valuation under FIFO and LIFO Yes No b. If the cost of mowers had increased to $249 each by December 1, and if management had purchased 30 mowers at that time and if it wants to minimize taxes, which cost flow assumption was probably being used by the film? UFO FIFO

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