(Answered) Problem - oregon lumber processes timber into four products

Accounting

Problem - Oregon Lumber processes timber into four products. During January, the joint costs of processing were $5,000. There was no inventory at the beginning of the month. Production and sales value information for the month is as follows:

		Sales Value at
Product	Board feet	Splitoff Point	Ending Inventory
2 x 4's	50,000	$0.20 per board foot	3,000 bdft.
2 x 6's	30,000	0.30 per board foot	1,000 bdft.
4 x 4's	40,000	0.25 per board foot	5,000 bdft.
Slabs	10,000	0.10 per board foot	3,000 bdft.

Determine the value of ending inventory if the sales value at split-off method is used for product costing. Round to 3 decimal places when necessary.

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