8) Bismite Corporation purchases trees from Walton 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 275 trees Trees processed : Production : paper pencil casings paper pencil casings 200,000 sheets 180,000 174,000 at $0.12 per page 178,500 at $0.15 per casing Sales : The cost of purchasing 275 trees and processing them up to the splitoff point to yield 200,000 sheets of paper and 180,000 pencil casings is $15,000. Bismite's accounting department reported no beginning inventory a. Determine the amount of joint cost allocated to each product if the sales value at split off method is used. b. What is the value of the Cost of Goods Sold for each of the joint products using the sales value at split off method C. What is the value of the Ending Inventory of each product using the sales value at split off method