Petro manufacturing processes 30,000 litres of direct materials to produce two products, D-om Sludge. Sludge...
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Petro manufacturing processes 30,000 litres of direct materials to produce two products, D-om Sludge. Sludge sells for $4 per litre, and D-oil, the main product, sells for $50 per litre. The follo information is for November: Produc- Beginning Ending Sales Inventory Inventory Sludge... 8,750 8,050 700 D-oil.. 20,000 19,000 1,000 The joint cost is $130,000. The byproduct is recognized when produced. REQUIRED: What is the dollar value of the ending inventory on Petro's Balance Sheet
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