2a. Which method would result in the highest pretax earnings? FIFO Weighted-average cost Specific identification 2b. Which method would result in the lowest income tax expense? Weighted-average cost FIFO Specific identification 2c. Which method would result in the most favourable cash flow? Weighted-average cost Specific identification O FIFO 3. Prepare journal entries to record the transactions that occurred in January 2018, assuming that FIFO is used for inventory costing. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 5 6 Record sales on account. Note: Enter debits before credits. Date General Journal Debit Credit January 10 Record entry Clear entry View general journal