Two products (W and X) are created from a joint process. Both products can be sold immediately after split-off. There are no opening inventories or work in progress. The following information is available for last period:
Total joint production costs?????????????? ?$776,160
Product?????????????????????? Production units???????????????? ? Sales units?????????????????????? ?Selling price per unit
?? W???????????????????????????????? ?12,000????????????????????????????? 10,000???????????????????????????????????????? ?$10
???X????????????????????????????????? ?10,000?????????????????????????????? 8,000??????????????????????????????????????????? $12
Using the sales value method of apportioning joint production costs, what was the value of the closing inventory of product X for last period?