Inland Company produced 8,600 units during the past year, but only 8,000 of the units were sold. The following additional information is also available. Direct materials used $61,300 Direct labor incurred $28,500 Variable manufacturing overhead $22,000 Fixed manufacturing overhead $34,400 Fixed selling and administrative expenses $70,500 Variable selling and administrative expenses $12,000 There was no work in process inventory at the beginning and end of the year, nor did Sunland have any beginning finished goods inventory. What would be Sunland Companys finished goods inventory cost on December 31 under variable costing?(Round intermediate calculationsto 2 decimal places e.g. 10.25 and final answer to 0 decimal places, e.g. 2,510.) Finished goods inventory cost $ Which costing method, absorption or variable costing, would show a higher net income for the year? By what amount?(Round intermediate calculationsto 2 decimal places e.g. 10.25 and final answer to 0 decimal places, e.g. 2,510.) method would show a higher net income by $