4. One of the accepted methods of accounting for a by-product is to recognize the value of the by-product as it is produced. Under this method, inventory costs for the by-product would be based on a. An allocation of some portion of joint costs but not any subsequent processing costs b. Neither an allocation of some portion of joint costs plus any subsequent processing costs c. Subsequent processing costs less an allocation of some portion of joint costs d. An allocation of some portion of joint costs plus any subsequent processing costs