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 ($18 per unit) $765,000 Variable expenses: Variable cost of goods sold 467,500 Variable selling expense 127,500 Total variable expenses 595,000 Contribution margin 170,000 Fixed expenses: Manufacturing 105,360 Selling and administrative 35,120 Total fixed expenses 140,480 Net operating income $ 29,520 During November, 35,120 units were manufactured and 8,650 units were in beginning inventory. Variable production costs per unit, total fixed manufacturing expenses, and the number of units produced were the same in prior months. The value of the company's inventory on November 30 under absorption costing would be: Multiple Choice . $13,970 $21,590 $17,780 $26,590