Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year of operations, 5.600 units remained in the finished goods ventory. The unit manufacturing costs during the year were Direct materials $41.10 Direct labor 17.80 Fixed factory overhead 5.60 Variable factory overhead 4.90 Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption casting concept and the variable Absorption costing Variable costing Previous Check My Work mor Check My Work uses remang