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 ($16 per unit) $665,600 Variable expenses : Variable cost of goods sold 332,800 Variable selling expense 124,800 Total variable expenses 457,600 Contribution margin 208,000 Fixed expenses: Manufacturing 106,950 Selling and administrative 71,300 Total fixed expenses 178,250 Net operating income $ 29,750 During November, 35,650 units were manufactured and 8,710 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 o $43,640 o $30,360 o $38,640 o $22,080