Refer to E17.16. What is Gregson’s ending inventory using absorption costing?

Data from E17.16

Gregson Enterprises, in its first year of operations, reported the following information:What is Gregson’s absorption costing gross margin and profit?

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Selling price per unit Direct materials per unit Direct labor per unit Unit-related overhead per unit Selling cost per unit Batch-related overhead for the year Facility-sustaining overhead for the year Fixed administrative cost for the year Units produced Units sold $ 100 LO 5 1 6 2 500,000 800,000 650,000 20,000 15,000