Hite Co. was formed on January 2, 2010, to sell a single pro…

Hite Co. was formed on January 2, 2010, to sell a single product. Over a two-year period, Hite’s acquisition costs have increased steadily. Physical quantities held in inventory were equal to three months’ sales at December 31, 2010, and zero at December 31, 2011. Assuming the periodic inventory system, the inventory cost method which reports the highest amount of each of the following is:

A company produces two products and incurs joint costs of $8…

A company produces two products and incurs joint costs of $80,000. The company is trying to determine whether the products should be sold at the split-off point or processed further, and is using the following data:                         If Processed Further Product Units Produced Total Sales Value at Split-Off  Total Additional Costs Total Sales Value A 2,000       $12,000         $2,800      $17,500 B 5,500       $31,000         $3,500       $32,700 If all units of both products are processed further after the split-off point, total net income will by .