Pirate Seafood Company purchases lobsters and processes them into talls and flakes. It sells the lobster tails for $20.40 per pound and the flakes for $15.50 per pound. On average, 100 pounds of lobster are processed into 54 pounds of tails and 28 pounds of flakes, with 18 pounds of waste. Assume that the company purchased 3,000 pounds of lobster for $4 per pound and processed the lobsters with an additional labor cost of $9,700. No materials or labor costs are assigned to the waste. If 1.483 pounds of tails and 757 pounds of flakes are sold, calculate the allocated cost of the sold items and the allocated cost of the ending Inventory. The company allocates Joint costs on a value basis. (Round your answers to nearest whole number. Round cost per pound answers to 2 decimal places.) Allocated cost Cost per Cost to be Yield per 3.000 lb. purchase Market Value per 3,000 lb. purchase Percent of Market Value allocated 3.000 pound pound purchase % of Mkt Numerator Denominator Lobster Tails Lobster Flakes Totals 1) What is the allocated cost of the sold items? Cost of Cost per Pounds sold Goods pound Sold Lobster Tails Lobster Flakes Totals 2) What is the allocated cost of the ending inventory? Pounds in Cost of Cost per ending Ending pound inventory Inventory Lobster Tails Lobster Flakes Totals