Homework Answers
| Purchase cost | 6340000 |
| Add: Development costs | 1725000 |
| Less: Estimated residual value | -590000 |
| Cost for depletion | 7475000 |
| Divide by Estimated tons | 2500000 |
| Depletion per ton | 2.99 |
| X Tons sold | 523000 |
| Amount of depletion in cost of goods sold | 1563770 |
| Option 4 $1563770 is correct |
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