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: January 21 Blowers 20@ $208 Mowers February 3 37@ 196 February 28 27@ 199 March 13 21@ 195 April 6 May 22 June 3 16@ $218 34@ 218 39@ 220 June 20 August 15 54@ 234 17@ 218 September 20 November 7 16@ 218 18@ 208 The December 31, 2019, inventory included 10 blowers and 30 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. FIFO LIFO Blowers $ 2,080 $ 2,080 Mowers $ 6,540 $ 6,540 a-2. Is there any difference in valuation under FIFO and LIFO. Yes No b. If the cost of mowers had increased to $243 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? LIFO O FIFO