Information taken from Collegiate Sporting Goods Company's records for the most recent year is as follows: Direct material used $272,000 Direct labor $128,000 Variable manufacturing overhead $60,000 Fixed manufacturing overhead $100,000 Variable selling and administrative costs $56,000 Fixed selling and administrative costs $29,600 1

Information taken from Collegiate Sporting Goods Company's records for the most recent year is as follows:

Direct material used $272,000
Direct labor $128,000
Variable manufacturing overhead $60,000
Fixed manufacturing overhead $100,000
Variable selling and administrative costs $56,000
Fixed selling and administrative costs $29,600

1. Assuming the company uses absorption costing, compute the inventoriable costs for the year.

2. Compute the year's inventoriable costs using variable costing.