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Mower-Blower Sales Co. started business on January 20, 2019. Products sold were snow blowers and lawn mowers. Each product sold for $350. Purchases during 2019
Mower-Blower Sales Co. started business on January 20, 2019. Products sold were snow blowers and lawn mowers. Each product sold for $350. Purchases during 2019 were as follows: Mowers Blowers 18 @ $ 190 42@ 191 25 @ 199 20 @ 182 January 21 February 3 February 28 March 13 April 6 May June 3 June 20 August 15 September 20 November 7 18@ $220 47 @ 215 39 @ 217 68 @ 235 16@ 215 18@ 220 22@ 190 The December 31, 2019, inventory included 12 blowers and 24 mowers. Assume the company uses a periodic inventory system. Required: a-1. Compute ending inventory valuation at December 31, 2019, under the FIFO and LIFO cost flow assumptions. Answer is not complete. LIFO 5,680 X $ FIFO 2.280$ 2,280 x Blowers Mowers $
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