Problem Worksheet OxiClear manufactures a tile and grout cleaner. The company was formed during the current year. As a result, there was no beginning inventory. Management is evaluating performance and inventory management issues, and desires to know both net income and ending inventory under generally accepted accounting principles (absorption costing) as well as variable costing methods. Relevant facts are as follows: Selling price per gallon Variable manufacturing cost per gallon Variable SG&A costs per gallon Fixed manufacturing costs Fixed SG&A Total gallons produced Total gallons sold 44 0.8 0.9 1,450,000 235,000 650,000 620,000