Krepps Corporation produces a single product. Last year, Krepps manufactured 27,540 units and sold 22,200 units. Production costs for the year were as follows: Direct materials $214, 812 $121, 176 $239, 598 Direct labor Variable manufacturing overhead Fixed manufacturing overhead $302, 940 Sales totaled $1,098,900 for the year, variable selling and administrative expenses totaled $115,440, and fixed selling and administrative expenses totaled $176,256. 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 $240,346 $231,846 $197,846 $170,346