00 Inventory Valuation under Abseron Costing and var sting At the end of the first year of operations, 4.400 units remained in the finished goods inventory. The unit manufacturing costs during the year were as w Direct materials Direct labor Fixed factory overhead $27.60 Variable factory overhead 19.20 7.20 6.30 This information has been colected in the Micrmoft Excel Online fie. Open the spreadsheet, perform the required analysis, and mout your answers in the question below Open spreadsheet Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorgeen coating concept and to the variable casting concept Absorption costing Variable costing t 255,200 231,440 TO My Recall that the feed factory overhead cast is included in absorption costing, while only direct materials and labor and variatrie factury overhead is included variate costing Oh My Work All work saved. Save and Exit Submit Assignment for Grading