Exercise 2) Elmer's Electronics has the following information for the first three years of business: Units sold Units produced Fixed production costs Variable production costs per unit Selling price per unit Fixed selling & administrative expense 2019 2020 10,000 11,000 2021 12,000 25,000 $600,000 3,000 $600,000 8,000 $600,000 $ 100 $ 100 $ 100 $ 200 $ 210 $ 220 $200,000 $200,000 $200,000 Calculate income under both full costing and variable costing. What is the cost of ending inventory under full costing and under variable costing (assume FIFO)?