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How much will be Depletion expense for the period

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Question - Seven Co. owns a coal mine with an estimated 1,000,000 tons of available coal. It was purchased for $300,000 and has $50,000 salvage value. During the current period, Seven mined and sold 200,000 tons of coal. Depletion expense for the period will be how much? Please show the steps.

Reference no: EM132427667

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