Mannisto Inc. uses the FIFO inventory cost flow assumption. In a year of rising costs and prices, the firm reported net income o $212.357 and average assets of $1,554,120. If Mannisto had used the LIFO cost flow assumption in the same year, its cost of goods sold would have been $47,840 more than under FIFO, and its average assets would have been $41,360 less than under FIFO. 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 % ).) FIFO LIFO 13.7 % 17.2 % ROI
b. Suppose that two years later costs and prices were falling. Under FIFO, net income and average assets were $254,017 and $1,832,530, respectively. If LIFO had been used through the years, inventory values would have been $43 440 less than under FIFO and current year cost of goods sold would have been $20.095 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 %)) LIFO FIFO % 13.9 ROI

Flounder supply company, a newly formed corporation, incurred the following expenditures related to land, to buildings, and to machinery and equipment. abstract company’s fee for title search $1,066 architect’s fees 6,499 cash paid for land and dilapidated building thereon 178,350 removal of old building $41,000 less: salvage 11,275 29,725 interest on short-term loans during construction 15,170 excavation before construction for basement 38,950 machinery purchased (subject to 2% cash discount, which was not taken) 112,750 freight on machinery purchased 2,747 storage charges on machinery, necessitated by noncompletion of building when machinery was delivered 4,469 new building constructed (building construction took 6 months from date of purchase of land and old building) 994,250 assessment by city for drainage project 3,280 hauling charges for delivery of machinery from storage to new building 1,271 installation of machinery 4,100 trees, shrubs, and other landscaping after completion of building (permanent in nature) 11,070 instructions determine the amounts that should be debited to land, to buildings,and to machinery and equipment. assume the benefits of capitalizing interest during constructionexceed the cost of implementation. indicate how any costs notdebited to these accounts should be recorded.