Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year of operations, 5,500 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 Oonline file. Open the spreadsheet, perfocm the fequired analysis; and input your answers in the question below. Open spreadsheet Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. Absorption costing s Variable costing s