Plummer Corporation has provided the following data for its two most recent years of operation: Selling price per unit Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead per year Selling and administrative expenses: Variable selling and administrative expense per unit sold Fixed selling and administrative expense per year Year 1 $92,000 $31,000 $26,000 $132,000 0 Units in beginning inventory Units produced during the year Units sold during the year Units in ending inventory 2,000 The net operating income (loss) under absorption costing in Year 2 is closest to: 9,000 7,000 $ 5555 44 $ 63,000 5 $ 66,000 Year 2 2,000 7,000 8,000 1,000

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A:

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.