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George is a farmer, and they grow their own grains to feed to livestock. They...

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Accounting

George is a farmer, and they grow their own grains to feed to livestock. They have their own factory to process the grains. Once the
processing is done, they have a by-product of straw. Which of the following is the correct way using the sales method that their entries
impact the income statement for the straw?
COGS less sales revenue equals gross profit.
Sales revenue less COGS equals gross profit.
Sales revenue plus COGS less by-product sales revenue equals gross profit.
Gross profit less COGS equal sales revenue.
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