River Resources, Inc., mines copper. Its smelting process also yields a byproduct, molybdenum, that can be sold for industrial use. Both products are sold at the splitoff point. River Resources started November 2017 with no inventories and spent $630,000 on operations that month. Production and sales information for November are given below:

What is the gross margin for River Resources, Inc., under the production method and the sales method of accounting for byproducts?

Begin by calculating the gross margin under the production method and then the sales method. (Enter a "O" for any cells with a zero balance. For the main product inventory: Calculate the proportion of inventory first, then complete your calculation. Enter all numbers in thousands of dollars.)

\begin{tabular}{lrrr|} & Production (in tons) & Sales (in tons) & Selling Price per ton \\ \hline Copper & 32,000 & 24,320$ & 39 \\ Molybdenum & 4,200 & 3,100$ & 14 \\ \hline \end{tabular} \begin{tabular}{cc} Production Sales \\ method & method \\ \hline \end{tabular} Revenues Main product Byproduct Total revenues Cost of goods sold Total manufacturing costs Deduct value of byproduct production Net manufacturing costs Deduct main product inventory Cost of goods sold Gross margin