WidgetMakers Inc. is a manufacturing company that produces widgets. The company uses the absorption costing method for its financial reporting. In the month of January, WidgetMakers Inc. produced 10,000 units of widgets, incurring total manufacturing costs of $200,000. Of these costs, $50,000 was fixed overhead. During January, 8,000 units were sold, with a selling price of $30 per unit. Prepare an income statement for January using absorption costing. Additionally, calculate the ending inventory value using absorption costing.