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Choice Chickon grows and processes chickens. Each chicken is disassembled Choice Chicker's management wants to use the sales value at splitoff into five main parts. Choico Chickon is computing the ending inventory values for method. However, management wants you to explore the effect on ending its July 31, 2020, balance sheet. Ending invontory amounts on July 31 are 15 inventary values of classifying one or more products as a byproduct rather pounds of breasts, 4 than a joint product. (Click to viow information on the sales value at spitolf method.) Read the requirements. Requirement 1. Assume Choice Chicken classifies all five products as joint products. What are the ending inventory values of each product on July 31, 2020? (Round your answers to the nearest cont. Enter an amount for each product including zero balances.) Requirement 2. Assume Choice Chicken uses the production method of accounting for byproducts. What are the ending inventory values for each joint product on July 31. 2020, assurning breasts and thighs are the joint products and wings, bones, and feathers are byproducts? Begin by selecting the formula to calculate the joint costs to be allocated. Then enter the amounts and determine the amount. (NRV = Net Realizable Value) Requirement 2. Assume Choice Chicken uses the production mothod of accounting for byproducts, What are the ending inventory values for each joint product on July 31, 2020, assuming breasts and thighs are the joint products and wings, bones, and feathers are byproducts? Begin by selecting the formula to calculate the joint costs to be allocaled. Then enter the amounts and determine the amount. (NRV = Net Realizable Value, ) Now use the table below to calculate the allocated coste per pound for the breasis and thighs. (fscund the weights to three chcimal places, the joint costs to the nearest cont and the allocated coste per pound to four docimal places.) Now use the table below to calculate the allocaled costs per pound for the breasts and thighs. (Round the weights to three decimal places, the joint costs fo the nearest cont and the allocated costs per pouind to four decimal places:)