Thomas Lumber Company produces furniture grade lumber and building grade lumber from a joint process. Sawdust, a by-product of the manufacturing process, is sold to a local toy manufacturer to stuff leather toys for an estimated $10 per ton. In February, the company produced 3,000 tons of sawdust. What is the entry to record the estimated sales value of the by-product? By-product inventory $30,000 Work in process $30,000 Work in process $30,000 Other income $30,000 Cost of goods sold $30,000 By-product inventory $30,000 By-product inventory $30,000 Gain or loss on sale of by-product $30,000