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Case 3 Megan Company, which began operations in 2019. produces gasoline and gasoline by-product. The following information is available pertaining to 2019 sales and production:
Case 3 Megan Company, which began operations in 2019. produces gasoline and gasoline by-product. The following information is available pertaining to 2019 sales and production: Total production costs to split-off-point Gasoline sales By-product sales Gasoline inventory, 12/31/19 Additional by-product costs: Marketing Production $ 120,000 270,000 30,000 15,000 10,000 15,000 Megan Company accounts for the by-product at the time of production. Required: What are Megan Company's cost of sales for gasoline and the by-product
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