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The Resch Company operates a simple chemical process to convert a single material into three separate items, referred to here as X, Y, and Z All three end products are separated simultaneously at a single splitoff point. (Click the icon for additional information.) Requirement 1. Compute the cost of inventories of X,Y, and Z for balance sheet purposes and the cost of goods sold for income statement purposes as of December 31, 2017, using the (a) NRV, and the (b) constant gross-margin percentage NRV cost allocation methods. (a) Start with the NRV cost allocation method. Begin by computing the net realizable value for fotal production at the point of splitoff and the weighting for each product. (Enter the weights to fwo decimal places) Products X and Y are ready for processing or any other adddton bolore being sold There is no selling prices quoted hete are Requirements - X68 tons sold for $1,200 per ton - Y480 fons sold for $900 per ton - Z672 tons sold for $600 per ton The total joint manufacturng costs for the year were $580,000 Resch spent an