Inventory Valuation under Variable Costing During the most recent year, Pelham Company had the following data associated with the product it makes: 400 14,000 13,700 Units in beginning inventory Units produced Units sold ($300 per unit) Variable costs per unit: Direct materials Direct labor Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative $15 $36 $9 $40 $140,000 Required: 1. How many units are in ending inventory? $ 700 units 2. Using variable costing, calculate the per-unit product cost. 100 X 3. What is the value of ending inventory under variable costing