Mower-Blower Sales Company started business on January 20, 2022. Products sold were snow blowers and lawn mowers. Each product sold for $350. Purchases during 2022 were as follows:

	Blowers	Mowers
January 21	16 @ $195
February 3	43 @ $198
February 28	37 @ $187
March 13	20 @ $200
April 6		20 @ $202
May 22		48 @ $212
June 3		40 @ $224
June 20		69 @ $230
August 15		16 @ $212
September 20		20 @ $202
November 7	20 @ $195

The December 31, 2022, inventory included 10 blowers and 30 mowers. Assume the company uses a periodic inventory system.

Required:

1. 1. Compute ending inventory valuation at December 31, 2022, under the FIFO and LIFO cost flow assumptions.
   2. Is there any difference in valuation under FIFO and LIFO.
2. If the cost of mowers had increased to $244 each by December 26th, and if management had purchased 30 mowers just before the end of the year, which cost flow assumption was probably being used by the firm?