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problem: Oregon Lumber processes timber into four (4) products. During January, the joint costs of processing were $280,000. There was no inventory at the starting of the month. Production & sales value information for the month is as follows: Sales Price at Product Board feet Split off Point Ending Inventory 2 x 4's 6,000,000 $0.30 per board foot 500,000 bdft. 2 x 6’s 3,000,000 0.40 per board foot 250,000 bdft. 4 x 4’s 2,000,000 0.45 per board foot 100,000 bdft. Slabs 1,000,000 0.10 per board foot 50,000 bdft. find out the value of ending inventory if the sales value at split off method is used for product costing. [Give your answer to three (3) decimal places]

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