Inventory valuation under absorption costing and variable costing At the end of the first year of operations, 20,900 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question b Open spreadsheet Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorptian costing concept and (b) the variable costing concept. a. Cost of the finished goods inventory under the absorption costing: b. Cost of the finithed goods inventory under the varlable costing