Inventory Valuation under Absorption Costing and Variable Costing Office 365 At the end of the first year of operations, 6,400 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials Direct labor Fixed factory overhead $27.90 13.20 Variable factory overhead it 5.70 5.00 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below Open spreadsheet Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept Absorption costing Variable costing Check My Work 10 more Check My Work uses remang Emal Instructo Save and Ex Submit Assigment for Grading