Using the cost figures computed in part a, answer the following questions: 1. Which of the three cost flow assumptions will result in Speed World Cycles reporting the highest net income for the current year, and why? A. FIFO, because it assigns the oldest inventory costs to cost of goods sold. B. FIFO, because it assigns the oldest inventory costs to cost of goods sold, and the inventory prices are increasing over time. C. LIFO, because it assigns the most recent inventory costs to cost of goods sold. D. LIFO, because it assigns the most recent inventory costs to cost of goods sold, and the inventory prices are increasing over time. E. Average cost, because it averages the oldest and more recent inventory costs when computing cost of goods sold. F. Average cost, because it averages the oldest and more recent inventory costs when computing cost of goods sold, and the inventory prices are increasing over time