By-product; net realizable value method Weinberg Canning produces fillet, smoked salmon, and salmon remnants in a single process. The same amount of disposal cost is incurred whether a product is sold at split-off or after further processing. In October, the joint cost of the production process was $369,200. Product Fillet Smoked Remnants Pounds Produced Separate Cost Final Selling Price 46,800 52,000 5,200 $3.00 5.20 0.30 $16.00 13.00 1.50 a. The remnants are considered a by-product of the process and are sold to cat food processors. Allocate the joint cost based on approximated net realizable value at split-off. Use the net realizable value method to account for the by-product, subtracting the by-product cost from the cost of Work in Process Inventory- Joint Products. Fillet $ Smoked Total $ b. Determine the value of ending Finished Goods Inventory, assuming that 10,400 pounds of salmon fillets, 6,240 pounds of smoked salmon, and 910 pounds of salmon remnants were sold. Note: Round cost per pound to the nearest penny in your calculations. Note: Round your final answers below to the nearest whole dollar. Inventory values: Fillet Smoked Remnants $ Total inventory value $