Inventory Valuation under Variable Costing Daltin Company produced 50,000 units during its first year of operations and sold 48,900 at $12 per unit. The company chose practical activity—at 50,000 units—to compute its predetermined overhead rate. Manufacturing costs are as follows: Required: 1. Calculate the cost of one unit of product under variable costing. 2. Calculate the cost of ending inventory under variable costing.

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.