Biff Enterprises, Inc. reports the following information: 2009 2010 2011 Units sold 20,000 20,000 20,000 Units produced 20,000 24,000 16,000 Fixed production costs $1,200,000 $1,200,000 $1,200,000 Variable production costs per unit $ 200 $ 200 $ 200 Selling price per unit $ 400 $ 400 $ 400 Fixed selling and administrative expenses $ 400,000 $ 400,000 $ 400,000 Calculate the value of the ending inventory using both absorption costing and variable costing.