Question 20 3.9 pts Burnside Enterprises began the accounting period with no beginning inventory. During the period Burnside paid cash to purchase two identical inventory items, the first purchase cost $42.00 and the second purchase cost $48.00. On the last day of the accounting period, Burnside sold one inventory item for $60.00 cash. From this information, which of the following conclusions can be drawn, assuming Burnside pays no taxes? There is an $18.00 net increase in cash if the FIFO cost flow assumption is used. There is a $21.00 net increase in cash if the weighted average cost flow assumption is used There is a $16.00 net increase in cash if the LIFO cost flow assumption is used. There is a $30.00 net decrease in cash no matter which cost few assumption is used