Use the following information to answer the next 4 questions. The following information is available for the Armstrong Co. Account Name Sales returns and allowances Purchases Beginning inventory Gross profit Operating expenses Sales Purchases returns and allowances Freight-in Sales discounts 20. Net sales for the period are A. $500,000 B. $480,000 C. $490,000 D. $510,000 $ 20,000 130,000 27,000 353,000 220,000 510,000 15,000 5,000 10,000 21. COGS for the period is: A. $147,000 B. $107,000 C. $127,000 D. $157,000 The ending inventory is: A. $20,000 B. $22,000 C. $25,000 D. $30,000 22. 23. Net income for the period is: A. $153,000 B. $ 163,000 C. $128,000 D. $133,000