For 2014, Nichols, Inc., had sales of 140,000 units and production of 200,000 units. Other information for the year included: Direct manufacturing labor Variable manufacturing overhead Direct materials Variable selling expenses Fixed administrative expenses Fixed manufacturing overhead There was no beginning inventory $150,000 100,000 150,000 100,000 100,000 200,000 Required: a. Compute the ending finished goods inventory under both absorption and variable costing Absorption? Variable? b. Compute the cost of goods sold under both absorption and variable costing. Absorption? Variable