Columbia Corporation produces a single product. The company's variable costing income statement for November appears below:

Columbia Corporation
Income Statement
For the Month ended November 30
Sales ($30 per unit)	$	1,200,000
Variable expenses:
Variable cost of goods sold		720,000
Variable selling expense		160,000
Total variable expenses		880,000
Contribution margin		320,000
Fixed expenses:
Manufacturing		140,000
Selling and administrative		35,000
Total fixed expenses		175,000
Net operating income	$	145,000

During November, 35,000 units were manufactured and 8,000 units were in beginning inventory. Variable production costs have remained constant on a per unit basis over the past several months.

The value of the company's inventory on November 30 under absorption costing would be:

Multiple Choice

• $54,000

• $66,000

• $78,000

• $81,000