Question: ABC Company uses the FIFO method for costing its inventory. During the year it has the following information Opening inventory 300 units Units produced 600

ABC Company uses the FIFO method for costing its inventory. During the year it has the following information Opening inventory 300 units Units produced 600 Units sold 600 Prior year fixed overhead costs $50 per unit Current-year fixed overhead costs $44 per unit Instructions Calculate the difference between operating income in the current year if the company uses variable or absorption costing

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