eBook Variable and Absorption Costing Whirlpool Corporation had the following abbreviated income statement for a recent year: (in millions) $18,666 16,089 $17,710 $ 956 Net sales Cost of goods sold Selling, administrative, and other expenses. 1,621 Assume that there were $4,024 million fixed manufacturing costs and $930 million fixed selling, administrative, and other costs for the year The finished goods inventories at the beginning and end of the year from the balance sheet were as follows January 1 anuary1 $2,792 million December 31 $2,354 million Assume hat 30% o he beginning and ending inventory consists of fixed costs. Assume workin process and ma ena s nventory were unchanged d in the per