Baraban Corporation has provided the following data for its most recent year of operation:          Selling price per unit $ 47       Manufacturing costs:     Variable manufacturing cost per unit produced:     Direct materials $ 10 Direct labor $ 6 Variable manufacturing overhead $ 5 Fixed manufacturing overhead per year $ 130,000 Selling and administrative expenses:     Variable selling and administrative expense per unit sold $ 5 Fixed selling and administrative expense per year $ 63,000       Units in beginning inventory 0 Units produced during the year 10,000 Units sold during the year 9,000 Units in ending inventory 1,000   The net operating income (loss) under absorption costing closest to:     $9,000     ($4,000)     $117,000     $72,000

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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.