Information taken from Ticonderoga Paper Company’s records for the most recent year is as follows:
Direct material used..............................................................$203,000
Direct labor............................................................................ 70,000
Variable manufacturing overhead......................................... 35,000
Fixed manufacturing overhead.............................................. 56,000
Variable selling and administrative costs.............................. 28,000
Fixed selling and administrative costs................................... 14,000

Required:
1. Assuming Ticonderoga Paper Company uses variable costing, compute the inventoriable costs for the year.
2. Compute the year’s inventoriable costs using absorption costing.
(CMA, adapted)