Solution-Compute cost depletion for the first two years

Compute cost depletion for the first two years

Reference no: EM13982650

1. S&G Mining Corporation purchased a mine that is estimated to hold 500,000 tons of ore for $1,000,000.During the first year, 50,000 tons were extracted and 40,000 tons were sold. In the second year, 60,000 tons were extracted and 50,000 tons were sold. Estimates of the amount of ore held by the mine at the end of the first year were revised to 670,000 tons. Compute cost depletion for the first two years.

Reference no: EM13982650

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Compute cost depletion for the first two years

Reference no: EM13982650

Reference no: EM13982650

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