Mannisto, Inc., uses the FIFO inventory cost flow assumption. In a year of rising costs and prices, the firm reported net income of $241,986 and average assets of $1,593,940. If Mannisto had used the LIFO cost flow assumption in the same year, its cost of goods sold would have been $44,210 more than under FIFO, and its average assets would have been $43,190 less than under FIFO. Required a. Calculate the firm's ROl under each cost flow assumption (FIFO and LIFO). (Enter your answers as percentages rounded to 1 decimal place (i.e., 12.2%).) ROI b. Suppose that two years later costs and prices were falling. Under FIFo, net income and average assets were $291,846 and $1,939,430, respectively. If LIFO had been used through the years, inventory values would have been $42,370 less than under FIFO, and current year cost of goods sold would have been $17,875 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%).) RO