Variable and Absorption Costing-Three Products Winslow Inc. manufactures and sells three types of shoes. The income statements prepared under the absorption costing method for the three shoes are as follows: Winslow Inc. Product Income Statements-Absorption Costing For the Year Ended December 31, 201 Cross Training Shoes Golf Shoes Running Shoes Revenues Cost of goods sold Gross profit Selling and administrative expenses $551,700 $347,600 $288,500 (286,900) (170,300) (193,300) $264,800 (227,700) (127,700) $177,300 $95,200 (159,000) $37,100 $49,600 $(63,800) Operating income In addition, you have determined the following information with respect to allocated fixed costs: Fixed costs: Cross Training Golf Running Shoes Shoes Shoes Cost of goods sold $88,300 $45,200 $40,400 Selling and administrative expenses 66,200 41,700 40,400 effects of inventory may