Use the following to answer Questions 36-37 36. Meow Foods had 2,000 25-pound bags of cat food in beginning inventory. During 2017, the company manufactured 16,000 bags and sold 15,000 units. Each bag of food is sold for $17. Assume the same unit costs in all years. The company incurred the following costs: Direct materials $4.50 per unit Direct labor $2.10 per unit Variable manufacturing overhead $1.90 per unit Variable selling $1.00 per unit Fixed manufacturing overhead $48,000 Fixed selling $24,000 Fixed administrative $30,000 If the company uses variable costing, at what amount is the ending inventory for the year valued? A) $25,500 B) $28,500 C) $34,500 D) $9,000 37. If the company uses full costing, how much will be reported as inventory on the December 31, 2017 balance sheet? A) $9,000 B) $25,500 C) $28,500 D) $34,500