Management accounting: Costing methods Last month, the GLIM company obtained the following figures regarding their sales figures: Feature Starting inventory Production Available Closing inventory Quantity (units) 20,000 240,000 260,000 50,000 Selling price is 6 per unit. Variable production costs is 3 per unit. Fixed production costs at a production volume of 200,000 units per month is 0.30 per unit Based on the information presented above: a. Calculate last month's profit using direct costing b. Calculate last month's profit using absorption costing c. Explain the differences between the answers to a and b from an in- ventory point of view d. Calculate the value of last month's ending inventory according to the direct costing as well as the absorption costing approach