Joint cost allocation; by-products Go-Go Co., which began operations in the current year, produces gasoline and a gasoline by-product. Go-Go accounts for the by-product at the time of production through a reduction in joint product cost of goods sold. The following information is available pertaining to annual sales and production: a. Compute Go-Go's cost of sales for gasoline and for the by-product for the year. Cost of sales for gasoline \$ Cost of by-product \$ b. If Go-Go had used the by-product's NRV to reduce the joint cost of the gasoline, how (if at all) would the gross margin for the year change? Gross margin would