15 Question * (3 Points) Bismite Corporation purchases trees from Cheney lumber and processes them up to the splitoff point where two products (paper and pencil casings) are obtained. The products are then sold to an independent company that markets and distributes them to retail outlets. The following information was collected for the month of October Trees processed: 250 trees Production: paper 270,000 sheets pencil casings 270,000 Sales: paper 261,000 at $0.14 per page pencil casings 267,000 at $0.21 per casing The cost of purchasing 250 trees and processing them up to the splitoff point to yield 270,000 sheets of paper and 270,000 pencil casings is $18,750. Bismite's accounting department reported no beginning inventory Q. If the sales value at splitoff method is used, what are the approximate joint costs (not the total production cost) assigned to ending inventory for paper? (put the final answer only) Enter your answer 16