Question 23 G-Lynch Company has the following information for the period: Not yet answered Points out of 1.00 Cost of goods sold: $ 220,000 Sales revenue: $600,000 Other expenses and losses: $ 30,000 Operating expenses: $ 250,000 Other revenues and gains: $20,000 Sales returns and allowances: $ 50,000 Income tax expense: $ 35,000 Flag question . How much is G-Lynch Company's income from operations? Answer: Question 24 J-Cena Company had the following beginning inventory and made the following inventory purchases: Not yet answered Points out of 1.00 Flag question Beginning inventory on January 1, 20X1: 100 units at $20 per unit = $2,000 Purchase on January 5, 20X1: 300 units at $19 per unit - $5,700 Purchase on January 16, 20X1: 200 units at $18 per unit = $3,600 Purchase on January 25, 20X1: 400 units at $17 per unit = $6,800 During January 20X1.600 units were sold. If the ending balance in inventory reported on the balance sheet is $7.700, which inventory costing method is being used? Select one: O Not enough information to tell O Last-in-first-out (LIFO) O First-in-first-out (FIFO) O Average cost