In a period of rising prices, which of the following inventory methods generally results in the lowest net income figure? (a) LIFO method (b) FIFO method. (c) Average cost method (d) Need more information to answer. On August 15^th 2017, Kinney Industries signs a $200,000, 8%, twelve-month note payable. Which of the following entries correctly records the accrued interest on December 31^st, 2017? A) Interest Expense $5, 333.33 Interest Payable $5, 333.33 B) Interest Expense $6,000 Interest Payable $6,000 C) Interest Expense $10,000 Interest Payable $10,000 D) Interest Expense $16,000 Interest Payable $16,000