Question 5 2 pts Simon Cereal purchased 100 pounds of cornflakes for $100. Transportation cost to Simon's production facility was $25 for the barrel of cornflakes shipped FOB destination. Simon paid $60 for 100 one pound biodegradable plastic bags into which the cornflakes were placed. The cost of each one-pound bag of cornflakes is: $1.00 $1.25. $1.60. $175. Question 6 2 pts During a year of rising prices and increasing inventory, which cost flow assumption would measure the smallest working capital ratio? FIFO LIFO Average Working capital is not sensitive to inventory cost flow assumptions