Weinberg Canning produces fi llet, smoked salmon, and salmon remnants in a single process. The same amount of disposal cost is incurred whether a product is sold at split-off or after further processing. In October 2010, the joint cost of the production process was $142,000. Product Pounds Produced Separate Cost Final Selling Price Fillet 18,000 $3.00 $16.00 Smoked 20,000 5.20 13.00 Remnants 2,000 0.30 1.50 a. Th e remnants are considered a by-product of the process and are sold to cat food processors. Allocate the joint cost based on approximated net realizable value at split-off . Use the net realizable value method to account for the by-product. b. Determine the value of ending Finished Goods Inventory, assuming that 4,000 pounds of salmon fi llets, 2,400 pounds of smoked salmon, and 350 pounds of salmon remnants were sold.