Trundle Ltd.produces two main products, J and K; and, a byproduct, L.There were no beginning inventories.During April, it incurred $275,000 of joint costs, which are allocated to main products using the physical output method.Additional information follows:
Required:
Assuming Trundle recognizes byproduct revenue at the time of production, what is the total value of ending inventory?

Question

Trundle Ltd.produces two main products, J and K; and, a byproduct, L.There were no beginning inventories.During April, it incurred $275,000 of joint costs, which are allocated to main products using the physical output method.Additional information follows:
  Required:
Assuming Trundle recognizes byproduct revenue at the time of production, what is the total value of ending inventory?

Quizplus · Accepted Answer

The Answer of Trundle Ltd.produces two main products, J and K; and, a byproduct, L.There were no beginning inventories.During April, it incurred $275,000 of joint costs, which are allocated to main products using the physical output method.Additional information follows:
  Required:
Assuming Trundle recognizes byproduct revenue at the time of production, what is the total value of ending inventory?