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 5/3, net 30 Choose... FIFO assumption Pay within 3 days of the invoice date, and get a 5% discount Requires one entry when a sales transaction occurs Accounts receivable minus allowance for doubtful accounts Pay within 5 days of the invoice date, and get a 3% discount Requires two entries when a sales transaction occurs Produces the highest net income Cost minus accumulated depreciation LIFO assumption Produces the lowest net income