Mower-Blower Sales Co. started business on January 20, 2016. Products sold were snow blowers and lawn mowers. Each product sold for $350. Purchases during 2016 were as follows: Mowers Blowers 17@$ 198 46@ 199 34@ 193 24@ 191 January 21 February 3 February 28 March 13 April 6 May 22 June 3 June 20 August 15 September 20 November 7 18@ $213 44@ 213 43@ 216 69@ 232 18@ 213 18@ 213 25@ 198 The December 31, 2016, inventory included 7 blowers and 26 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.) FIFO LIFO Blowers Mowers a-2. Is there any difference in valuation under LIFO and FIFO. O Yes O No b. If the cost of mowers had increased to $246 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 firm? OLIFO O FIFO