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 Produces the highest net income Produces the lowest net income Pay within 5 days of the invoice date, and get a 3% discount Requires one entry when a sales transaction occurs LIFO assumption Cost minus accumulated depreciation Accounts receivable minus allowance for doubtful accounts Pay within 3 days of the invoice date, and get a 5% discount FIFO assumption Requires two entries when a sales transaction occurs a