Crispy Inc. is a producer of potato chips. A single production process at Crispy Inc. yields potato chips as the main product and a byproduct that can also be sold as a snack. Both products are fully processed by the splitoff point, and there are no separable costs. For September 2018, the cost of operations is $485,000. Production and sales data are as follows: (Click the icon to view the production and sales data.) There were no beginning inventories on September 1, 2018. Required 1. What is the gross margin for Crispy Inc. under the production method and the sales method of byproduct accounting? 2. What are the inventory costs reported in the statement of financial position on September 30, 2018, for the main product and byproduct under the two methods of byproduct accounting in requirement 1? i Production and sales data Production (in kg) Sales (in kg) Selling Price per kg Main product: Potato Chips 52,000 46,000 $ 20 Byproduct 8,400 5,500 $ 10 Print Done -