4 value 2.50 points Exercise 6-13 Inferring Costing Method; Unit Product Cost [LO6-1) Direct labor S 7 $ 3 $ 5 Fixed costs per $ 91,500 Fixed selling and account at the end of the year shows a balance of $126,000 for the 6,000 unsold units Required: Finished Goods inventory account O Absorption costing O Variable costing a. Is the $126,000 figure for Finished Goods external reporting purposes? Yes, because variable costing is generally accepted for external reporting. reporting. costing is generally accepted for external reporting. No, because absorption costing is not generally accepted for external reporting