Match the following statements (you can use every answer only One time) Net Book value Net realizable (cash) value In a period of increasing prices, LIFO In a period of increasing prices, FIFO Periodic inventory system Perpetual inventory system Cost of goods sold is from latest purchases Cost of goods sold is from earliest purchases 3/5, net 30 5/3, net 30 Choose... Choose... Choose... > Choose... Choose... Choose... - Choose... Choose... > Choose... Choose... Choose... Requires one entry when a sales transac. FIFO assumption Produces the highest net income Produces the lowest net income Pay within 5 days of the invoice date, an... Produces the highest net income Produces the lowest net income Pay within 5 days of the invoice date, an.. Pay within 3 days of the invoice date. LIFO assumption Cost minus accumulated depreciation Accounts receivable minus allowance fo.... Pay within 3 days of the invoice date, an... LIFO assumption Cost minus accumulated depreciation Accounts receivable minus allowanc. Requires two entries when a sales trans