Information taken from Collegiate Sporting Goods Company's records for the most recent year is as follows: Direct material used Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative costs58,400 Fixed selling and administrative costs $275,000 130,400 63,000 31,100 Required: 1. Assuming Collegiate Sporting Goods Company uses absorption costing, compute the inventoriable costs for the year. Inventoriable cost 2. Compute the year's inventoriable costs using variable costing. Inventoriable cost