Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 7150 rackets and sold 5,480 Each racket was sold at a price of $90. Fixed overhead costs are $92,950 per year, and fixed selling and administrative costs are $67600 per year. The company also reports the following per unit variable costs for the year Direct materials Direct labor Variable overhead Variable selling and administrative expenses Compute the cost of ending finished goods inventory reported on the balance sheet using absorption costing Finished goods Inventory under absorption costing ces Product content Finished goods invertory reported on balance sheet