A - One Chicken grows and processes chickens. Each chicken is disassembled into A - One Chicken's management wants to use the sales value at splitoff method. five main parts. A - One Chicken is computing the ending inventory values for its July However, management wants you to explore the effect on ending inventory values of 31, 2020, balance sheet. Ending inventory amounts on July 31 are 12 pounds of classifying one or more products as a byproduct rather than a joint product. breasts, 5 pounds of wings, 8 pounds of thighs, 9 pounds of bones, and 3 pounds of (Click to view information on the sales value at splitoff method.) feathers. . ... . Read the requirements. Requirement 1. Assume A - One Chicken classifies all five products as joint products. What are the ending inventory values of each product on July 31, 2020? (Round your answers to the nearest cent. Enter an amount for each product including zero balances.) Product Ending inventory value Breasts Wings Thighs Bones Feathers TotalBreasts Wings Thighs Bones Feathers Total Pounds of product 200 40 80 160 20 500 Wholesale selling price per pound S 0.60 $ 0.15 $ 0.40 $ 0.10 $ 0.10 Sales value at splitoff $ 120.00 $ 6.00 $ 32.00 $ 16.00 $ 2.00 $ 176.00 Weighting: Sales Value at splitoff 0.682 0.034 0.182 0.091 0.011 1.000 Joint costs allocated $ 68.20 $ 3.40 $ 18.20 $ 9.10 $ 1.10 $ 100.00 Allocated costs per pound $ 0.3410 $ 0.0850 $ 0.2275 $ 0.0569 $ 0.0550X Requirements 1. Assume A - One Chicken classifies all five products as joint products. What are the ending inventory values of each product on July 31, 2020? 2. Assume A- One Chicken uses the production method of accounting for byproducts. What are the ending inventory values for each joint product on July 31, 2020, assuming breasts and thighs are the joint products and wings, bones, and feathers are byproducts? 3. Comment on differences in the results in requirements 1 and 2. Print Done