Farris Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 124 Units in beginning inventory 0 Units produced 9, 100 Units sold 8,700 Units in ending inventory 400 Variable costs per unit: Direct materials $ 21 Direct labor $ 63 Variable manufacturing overhead $9 Variable selling and administrative expense $ 13 Fixed costs: Fixed manufacturing overhead $ 136,500 Fixed selling and administrative expense $ 9,100 What is the net operating income for the month under absorption costing? Multiple Choice $11,000 $6,000 $17,000 $26, 200

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Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.