Joe Company, a medium sized retail business, is preparing to go public with an initial public offering scheduled for February 2022. One of the decisions Joe must make to prepare for the requirements of being a publicly held company is to select a cost flow assumption for inventory. Joe has narrowed his options to LIFO or FIFO and is now seeking additional input before making the choice. Please respond to Joe by addressing each of the factors below that he is concerned with, and conclude with providing your opinion on which method Joe should adopt and why. Prices have been generally rising in Joe's industry over the past 10 years. 1. Useful reporting of income. 2. Minimizing taxes. 3. Useful reporting of inventory on the balance sheet. 4. Ability to attract investors