(Monetary measure joint cost allocation) Refer to the information in Problem 36. a. Calculate the sales price...

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(Monetary measure joint cost allocation) Refer to the information in Problem 36.

a. Calculate the sales price per pound for skim milk and cream.

b. Using relative sales value, allocate the joint cost to the joint production. C. Calculate the cost of goods sold, cost of ending finished goods inven¬ tory, and the gross margin for the month.

LO1.

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