Exp has compiled the following standard cost card for its main product.
Production costs?????????????????????????????????????????? $
Fixed????????????????????????????????????????????????????????? 33.00
Variable????????????????????????????????????????????????????? 45.10
Selling costs Fixed???????????????????????????????????? 64.00
Variable????????????????????????????????????????????????????? 7.20
Profit????????????????????????????????????????????????????????? 14.70
Selling price????????????????????????????????????????????? ?164.00
What would the closing inventory be valued at under an absorption costing system (to 2 decimal places)?