Inventory valuation under absorption costing and variable costing At the end of the first year of operations, the number of units and the unit manufacturing costs were as follows: 23,400 $34 DATA Units in the finished goods inventory Direct materials Direct labor Fixed factory overhead Variable factory overhead 15 13 Using formulas and cell references, perform the required analysis, and input your answers into the Cost of Finished Goods column. Transfer the numeric results for the green entry cells (C15:C16) into the appropriate fields in CNOWV2 for grading. Cost of Finished Goods Formulas a. Absorption costing b. Variable costing