The Lucky Ole Sun manufactures dried grapes. The following data are available for the year 2020 Opening stock 1,000 units valued at $5000 Production 5,000 units consisting of: Direct material @3 per unit Direct labour @2 per unit Fixed production cost $10,000 Variable selling & dist. cost $1.50 per unit Fixed selling & dist. cost $4,000 $3,00 Fixed admin expenses The value of closing inventory for The Lucky Ole Sun using the absorption cost approach was:: Select one: O a. $1,000 O b. $2,000 Oc. $10,000 O d. $14,000