\begin{tabular}{l|l} TopNotchChickengrowsandprocesseschickens.Eachchickenisdisassembledintofivemainparts.TopNotchChickeniscomputingtheendinginventoryvaluesforitsJuly31,2020,balancesheet.EndinginventoryamountsonJuly31are15poundsofbreasts,4poundsofwings,6poundsofthighs,6poundsofbones,and3poundsoffeathers. & TopNotchChickensmanagementwantstousethesalesvalueatsplitoffmethod.However,managementwantsyoutoexploretheeffectonendinginventoryvaluesofclassifyingoneormoreproductsasabyproductratherthanajointproduct.(Clicktoviewinformationonthesalesvalueatsplitoffmethod.)Readtherequirements. \end{tabular} \begin{tabular}{lrrrrrrr} & Breasts & Wings & Thighs & Bones & Feathers & \multicolumn{1}{l}{ Total } \\ \hline Pounds of product & 90 & 25 & 35 & 45 & 5 & 200 \end{tabular} Wholesale selling price perpoundSalesvalueatsplitoff$$0.50$45.00$0.15$3.75$0.45$15.75$0.10$4.50$0.050.25$69.25 Weighting: Sales Value atsplitoff0.6500.0540.2270.0650.0041.000 Jointcostsallocated$26.00$$2.16$9.08$$.60$0.16$40.00 Allocated costs perpound$0.2889$0.0864$0.2594$0.0578$0.0320 1. Assume Top Notch Chicken classifies all five products as joint products. What are the ending inventory values of each product on July 31, 2020? 2. Assume Top Notch 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 . Requirement 1. Assume Top Notch 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.)