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.

Required:

a-1. Compute ending inventory valuation at December 31, 2016, under the FIFO and LIFO cost flow assumptions. a-2. Is there any difference in valuation under FIFO and LIFO. b. If the cost of mowers had increased to $960 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?