The Southern Corporation manufactures a single product and has the following cost structure: Last year, 7,770 units were produced and 7,670 units were sold. There was no beginning inventory. The carrying value on the balance sheet of the ending inventory of finished goods under variable costing would be: Last year, 7,770 units were produced and 7,670 units were sold. There was no beginning inventory. The carrying value on the balance sheet of the ending inventory of finished goods under variable costing would be: Multiple Choice $7,670 less than under absorption costing $2,700 less than under absorption costing the same as absorption costing $7,570 greater than under absorption costing