The Southern Corporation manufactures a single product and has the following cost structure: $ 38 $ 14 Variable costs per unit: Production Selling and administrative Fixed costs per year: Production Selling and administrative $ 140,000 $ 84,000 Last year, 7,000 units were produced and 6,800 units were sold. There was no beginning inventory. Under absorption costing, the cost of goods sold for the year would be: Multiple Choice $353,600 $398,400 $394,400 $258,400