At the end of the first year of operations, 4,200 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials $31.90 Direct labor 20.50 Fixed factory overhead 5.20 Variable factory overhead 4.60 Determine the cost-of the finished goods Inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. Absorption costing Variable costing