JC Incorporated produces two joint products: J and C. Both of these products must be processed further to be salable. As a result of the joint process one by-product is produced: X. JC uses the asset recognition method to account for by-products using the NRV of the product to offset the joint processing costs. The following information is available for the prior month's production: Raw materials used in joint process Joint process conversion costs Cost $ 81,000 Units 27,000 KG $ 10,000 Separable processing costs of produc $ 40,000 Good units of J 12,000 units Separable processing costs of produc $ 34,000 Good units of C 16,000 units Product X 2,000 units There were no opening inventories. The following sales information is available: Product J Product C Product X Required: Sales units $120,000 10,000 $240,000 $ 1,500 15,000 2,000 You are the junior accountant and have been asked to determine the cost of goods sold and inventory values for each product based on the above information. JC Incorporated uses the NRV method to allocate joint costs.