Complete the following table by indicating whether FIFO or LIFO results in the lower reported amount for each of the three accounting measures. Rising costs Falling costs Lowest Ending Inventory Lowest Cost of Goods Sold Lowest Net Income

Complete the following table by indicating whether FIFO or LIFO results in the lower reported amount for each of the three accounting measures. Jasper makes a $84,000,90-day, 7% cash loan to Clayborn Co. Jasper's entry to record the transaction should be: Muinple Choice Debit Cash 584.000 , crean Notes Receivoble for $84.000 Debit Notes Aecemable $84,000, credt Sales $84,000 Dobit Notes Receivable for 584,000 , ciedit Conh 584,000 Debit Notes Poybbie $64,000, credit Accounts Payable $84,000 Debit Accounts Receivable $44,000, creat Notes Recelvable $84,000