Rose's Garden Bush buys flowers from a local garden center and constantly requests they grow more red roses. The liquid from the pressed leaves of the unsold roses are purchased by fragrance shops. This liquid is sold as a by-product. This year Rose paid $1,000,000 to purchase 4,000,000 roses. After regular her regular flower sells, Rose was able to process 1 million pounds of liquid from the remaining roses. However, Rose spent $40,000 to ship and package the liquid, which was sold at $50,000. 1. How much of the joint cost is allocated to the liquid? 2. Calculate the total inventory cost (or the cost of goods sold) for the liquid. $ 3. If it cost $130,000 to press the liquid from the leaves of the flowers and $150,000 was used to filter, pasteurize, pack and ship the liquid to the perfume shops. Compute the total cost of the flower liquid production. $