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:

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

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

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.)

FIFO: LIFO:

BLOWERS: BLOWERS:

MOWERS: MOWERS: