Krepps Corporation produces a single product. Last year, Krepps manufactured 27,970 units and sold 22,200 units. Production costs for the year were as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead $234,948 $131,459 $240,542 $335, 640 Sales totaled $1,043,400 for the year, variable selling and administrative expenses totaled $113,220, and fixed selling and administrative expenses totaled $198,587. There was no beginning inventory. Assume that direct labor is a variable cost. Under absorption costing, the ending inventory for the year would be valued at: Multiple Choice o $221,949 o $255,949 o $194,449 o $254, 449 $264,449