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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: Mowers Blowers 2525203 588 191 32@ 188 199 190 January 21 February February 28 March 13 April 6 May 22 June 3 June 20 August 15 September 20 flovember 7 17 $217 31 210 43@ 216 53@ 233 199 210 17 217 179 203 The December 31, 2019, inventory included 9 blowers and 28 mowers. Assume the company uses a periodic inventory system Required: 8-1. Compute ending inventory valuation at December 31, 2019, under the FIFO and LIFO cost flow assumptions FIFO LIFO Blowers Mowers a 2. Is there any difference in valuation under FIFO and LIFO. Yes NO

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