Love, Inc. is a producer of cassava chips. A single production process at Love, Inc. yields cassava 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 $2023,$ the cost of operations is $$500,000.$ Production and sales data are as follows:Cassava chips$-$main product, production$($in pounds$)52,000,$Sales $($in pounds$)42,640,$Selling price per lbs $$16.$ Byproduct production$($in pounds$)8500,$ sales $($in pounds$)6500,$ selling price per lbs $$10.$ There were no beginning inventories on September $1,2023.$Required:What is the gross margin for Love, Inc., under the production method of byproduct accounting? b$/$ What is the inventry cost on September $30,2023$ for the main product?