Required Information Use the following information for the Quick Study below. (Algo) The following information applles to the questions displayed below] Aces Incorporated, a manufacturer of tennls rackets, began operations thls year. The company produced 6,650 rackets and sold 5,230. Each racket was sold at a price of $90. Fixed overhead costs are $86,450 per year, and fixed selling and adminlstratlve costs are $66,600 per year. The company also reports the following per unlt varlable costs for the year. QS 19-7 (Algo) Reporting inventory using absorption costing LO P2 Compute the cost of ending finlshed goods inventory reported on the balance sheet using absorption costing