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 24@ $ 201 48 @ 193 31 199 22@ 197 January 21 February 3 February 28 March 13 April 6 May 22 June 3 June 20 August 15 September 20 November 7 19 @ $210 45 @ 213 39 @ 220 65 @ 229 17 @ 213 19 @ 210 17 @ 201 The December 31, 2019, inventory included 11 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. FIFO LIFO Blowers Mowers a-2. Is there any difference in valuation under FIFO and LIFO. Yes No b. If the cost of mowers had increased to $241 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 FIFO