> The inconsistency of the English language makes it so phonics is limited after a certain number of words, and then memorization and context must be used. For example, take words like cough, rough, through, though, etc. or words like read, lead, wound, etc.

True, but it's not actually a problem. Just sound out the words, and you'll infer from the context which word it actually is and "fix" it in your mind. People listening to you read aloud will also know what what the correct pronunciation is and will help you correct it.