Newco Sells $300,000 of inventory for $500,000 this period. $400,000 is bought on credit, due in 30 days. Which statement below is most correct? 1) NewCo records $300,000 of Cost of Goods under 'Matching' principal. 2) NewCo records $300,000 of Cost of Goods Sold under revenue recognition' principal 3) NewCo records $300,000 of Cost of Goods Sold under "fair market principal 4) None of these other answers are correct