Exercise 11-37 Net Realizable Value Method (LO 11-7) Euclid Corporation processes a patented chemical, P-1, and produces two outputs, P-11 and P-12. In August, the costs to process P-1 are $144,000 for materials and $288,000 for conversion costs. P-11 has a sales value of $640,000 and P-12 has a sales value of $160,000 Required Using the net realizable value method, assign costs to P-11 and P-12 for August. Cost Assigned P-11 P-12