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Mannisto Inc. uses the FIFO Inventory cost flow assumption. In a year of rising costs...

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Mannisto Inc. uses the FIFO Inventory cost flow assumption. In a year of rising costs and prices, the firm reported net income of $243,348 and average assets of $1593,810 Mannisto nad used the LIFO cost flow assumption in the same year, its cost of goods sold would have been $45.360 more than under FIFO, and its average assets would have been $35.490 less than under FFO Required: a. Calculate the firm's ROI under each cost flow assumption (PFO and LIFO), (Enter your answers as percentages rounded to 1 decimal place i.e., 12.2%):) 2 Dents eBook FIFO LIFO ROI Deferences b. Suppose that two years later costs and prices were falling. Under FIFO, net income and average assets were $286,198 and $1,848,890, respectively. I LIFO had been used through the years, inventory values would have been $45.510 less than under FIFO. and current year cost of goods sold would have been $18,768 less than under FIFO. Calculate the firm's ROI under each cost flow assumption (FIFO and LIFO) (Enter your answers as percentages rounded to 1 decimal place le 12.2%) FIFO LIFO ROU

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