Top Notch Chicken grows and processes chickens. Each chicken is disassembled into five main parts. Top Notch Chicken is computing the ending inventory values for its July 31,2020 , balance sheet Ending inventory amounts on July 31 are 12 pounds of breasts, 7 pounds of wings, 3 pounds of thighs, 6 pounds of bones, and 3 pounds of feathers. TotchChickensmanagementwantstousethesalesvalueatsplitoffmethodHowever,managementwantsyoutoexploretheeffectonendinginventoryvaluesofclassityingoneormoreproductsasabyproductratherthanajointproduct.(ClicktoviewinformationonthesalesvalueReference Requirements 1. Assume Top Notch Chicken classifies all five products as joint products. What are the ending inventory values of each product on July 31,2020 ? 2. Assume Top Notch Chicken uses the production method 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? 3. Comment on differences in the results in requirements 1 and 2 . Requirement 1. Assume Top Notch 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 cent. Enter an amount for each product including zero balances.)