Assume that the income for 20X2 was $600,000 under variable


Question Description:

24.99

Assume that the income for 20X2 was $600,000 under variable costing and $800,000 under absorption costing. The end of year cost of inventory under standard variable costing was $70,000. The beginning of year cost of inventory under absorption costing was $40,000 higher than the cost of the beginning of year inventory under standard variable costing. Compute the end of year cost of inventory under standard absorption costing.

Answer

24.99