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: $742,900 393,300 131,100 524,400 218,500 Variable cost of goods sold Variable selling expense Total variable expenses Contribution margin Fixed expenses: Manufacturing Selling and administrative 107,040 71,360 178,400 $ 40,100 Tot al fixed expense S Net operating income During November, 35,680 units were manufactured and 8,820 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