A manufacturer reports the following costs to produce 20,000 units in its first year of operations: Direct materials, $20 per unit, Direct labor, $16 per unit, Variable overhead, $160,000, and Fixed overhead, $320,000. Of the 20,000 units produced, 19,200 were sold, and 800 remain in inventory at year-end. Under absorption costing, the value of the inventory is.

Rebel technology maintains its records using cash-basis accounting. during the year, the company received cash from customers, $43,000, and paid cash for salaries, $23,500. at the beginning of the year, customers owe rebel $1,000. by the end of the year, customers owe $6,600. at the beginning of the year, rebel owes salaries of $5,600. at the end of the year, rebel owes salaries of $3,300. determine cash-basis net income and accrual-basis net income for the year.