Refer to the information in Problem 40.
a. Assume the net realizable values of the joint products are as follows:
Soybean oil ......... $0.50 per pound
Soybean meal ....... $0.20 per pound
Allocate the joint cost incurred in March on the basis of net realizable value.
b. Calculate the cost of goods sold for March using the answer to (a).
c. Calculate the cost of Finished Goods Inventory at the end of March based on the answer to (a).
d. Compare the answers to (b) and (c) of Problem 40 to the answers to (b) and (c) of this problem. Explain why the answers differ.