calculate ending inventory that appears on balance sheet in 2020 unde rabsorption costing Total contribution margin 2020

Nirshaz Engineering Co. began operations in 2020 and produced 40,000 units. Its income statement under IFRS for the period ending December 31, 2020 is given below: Sales (35,000 units sold) $ 3,850,000 Less: COGS Variable manufacturing costs $ 1,750,000 Fixed manufacturing costs $ 87,500 ($1,837,500) Gross Profit $ 2,012,500 Less: Selling, General, and Admin Fixed selling & admin $ 120,000 Channel distribution (5% of Sales) $ 192,500 Other variable, selling, & admin $ 1,225,000 ($1,537,500) Operating Income $ 475,000