Mower$-$Blower Sales Company started business on January $20,2022.$ Products sold were snow blowers and lawn mowers. Each product sold for $$350.$ Purchases during $2022$ were as follows:

Blowers Mowers

January $2121$ @ $$204$

February $345$ @ $$190$

February $2829$ @ $$189$

March $1315$ @ $$194$

April $619$ @ $$207$

May $2239$ @ $$219$

June $345$ @ $$217$

June $2069$ @ $$230$

August $1518$ @ $$219$

September $2019$ @ $$207$

November $723$ @ $$204$

The December $31,2022,$ inventory included $11$ blowers and $26$ mowers. Assume the company uses a periodic inventory system.

Required:

Compute ending inventory valuation at December $31,2022,$ under the FIFO and LIFO cost flow assumptions.

Is there any difference in valuation under FIFO and LIFO.

If the cost of mowers had increased to $$240$ each by December $26$th$,$ and if management had purchased $30$ mowers just before the end of the year, which cost flow assumption was probably being used by the firm?