Coss Purchases old tires and recycle them to produce rubber floor mate and car mats. The company washes, shreds, and molds the recycled tires into sheets. the floor and car mates are cut from these sheets. A Small amount of rubber shred remains after the mats are cut. The ruber shred can be sold to use as cover for paths and playrounds. The company can produce $25$ floor mats, and $40$ pounds of ruber shreds from $100$ old tires. In may Coss Which had no beginning inventory processed $125,000$ tires and had joint costs of $$600,000.$ Cost lI sold $25,000$ floor mats, $85,00$ car mats, and $43,000$ pounds of rubber shreds. The company sells each floor mat for $$12$ and each car mat for $$6.$The company treats the rubber shreds as a byproduct that can be sold for $$0\mathrm{.}70$ per pound. $1.$ Assume that Coss allocates the joint costs to floor mats and car mats using the sales value at splitoff method and accounts for the byproduct using the production method. What is the ending inventory cost for each product and gross margin for Coss.