Check my work Mannisto Inc. uses the FIFO inventory cost flow assumption. In a year of rising costs and prices, the firm reported net income of $202,388 and average assets of $1,589,590. If Mannisto had used the LIFO cost flow assumption in the same year, its cost of goods sold would have been $45,490 more than under FIFO, and its average assets would have been $39,410 less than under FIFO. points Required: a. Calculate the firm's ROI under each cost flow assumption (FIFO and LIFO). (Enter your answers as percentages rounded to 1 decimal place (i.e., 12.2%).) Toecimal places required. eBook LIFO ROI 12.7 % Print References b. Suppose that two years later costs and prices were falling. Under FIFO, net income and average assets were $255,348 and $1,929,440, respectively. If LIFO had been used through the years, inventory values would have been $49,140 less than under FIFO, and current year cost of goods sold would have been $23,907 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 (i.e., 12.2%).) FIFO LIFO