Data related to the inventories of mountain ski equipment and supplies is presented below: skis boots apparel supplies selling price $ 180,000 $ 150,000 $ 120,000 $ 60,000 cost 128,000 133,000 90,000 48,000 replacement cost 120,000 130,000 110,000 50,000 sales commission 10 % 10 % 10 % 10 % normal gross profit ratio 20 % 20 % 15 % 15 % in applying the lower of cost or market rule, the inventory of supplies would be valued at:

Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.