For September, the cost to desalinate 326,000 gallons of seawater was $97,500.

Production and sales data are as follows:

Measure

Production

Sales

Sales price

Drinking water

Gallons

325,000

300,000

$0.75

Salt

Pounds

10,000

6,500

0.50

There were no beginning inventories at 9/1.

9. What is the gross profit for September under the Net Realizable Value method?

10. What is the gross profit for September under the Manufacturing Cost Reduction method?

11. What is the total inventory value at 9/30 under the Net Realizable Value method?

12. What is the total inventory value at 9/30 under the Manufacturing Cost Reduction metho