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 ($17 per unit) Variable expenses: $690,200 Variable cost of goods sold Variable selling expense Total variable expenses Contribution margin Fixed expenses: 406,000 121,800 527,800 162,400 Manufacturing Selling and administrative 107,250 35,750 143,000 19,400 Total fixed expenses Net operating income During November, 35,750 units were manufactured and 8,340 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 Multiple Choice $45,370 $55,840 $60,840 $34,900