QUESTION 23 The recognition of which of the following expenses exemplifies the application of the matching principle? O President's salary O Research and development O Cost of goods sold CO Advertising QUESTION 24 Texas Petrochemical reported the following April activity for ts VC-30 lubricant, which had a balance of 300 ts @ $2.40 on April 1 Purchases Apr. 10. 500 ts $2.50 Apr. 14 400 cts $2.60 Apr. 20 400 qts $2.65 Sales Apr. 3 200 gts Apr. 12 500 fs Apr. 26 300 qts The ending inventory assuming LIFO and a periodic inventory system is O $1,580 O $1,510 O $1,575 $1,470