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: blowers mowers january 21 17 @ $ 201 february 3 48 @ 190 february 28 34 @ 188 march 13 16 @ 193 april 6 18 @ $ 214 may 22 45 @ 218 june 3 35 @ 218 june 20 70 @ 225 august 15 19 @ 218 september 20 18 @ 214 november 7 22 @ 201 the december 31, 2019, inventory included 11 blowers and 25 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

LIFO (last-in, first-out)= $191

FIFO (first-in, first-out)= 240.45

Explanation:

Giving the following information:

Purchases during 2019 were as follows:

January:

21 + 17= 38 units

Unitary cost= 201/38= 5.30

September

20+18=38

214/38= 5.64

November

201/29= 6.93

December 31, 2019, inventory included 11 blowers and 25 mowers.

Total inventory= 36 units

LIFO (last-in, first-out):

36*5.30= $191

FIFO (first-in, first-out)

29*6.93 + 7*5.64= 240.45

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answer; ///deficit;