Mower-Blower Sales Co. started business on January 20, 2016. Products sold were snow blowers and lawn mowers. Each product sold for $1,400. Purchases during 2016 were as follows:

The December 31, 2016, inventory included 10 blowers and 25 mowers. Assume the company uses a periodic inventory system.

Required:

a-1. Compute ending inventory valuation at December 31, 2016, under the FIFO and LIFO cost flow assumptions. (Hint: Compute ending inventory under each method, and then compare results.) chart needs to be filled!!

January 21 February 3 February 28 March 13 April 6 May 22 June 3 June 20 August 15 September 20 November 7 Blowers Mowers 20@ $800 40@ 780 30@ 760 20@ 760 20@ $840 40@ 860 40@ 880 60@ 920 20 860 20@ 840 20@ 800