Business, 01.10.2019 03:00 ayandjay01
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
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