Salley Corporation produces a single product.Last year, the company had net operating income of $40,000 using variable costing.Beginning and ending inventories were 22,000 and 27,000 units, respectively.If the fixed manufacturing overhead cost was $3 per unit both last year and this year,what was the net operating income using absorption costing?

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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.