On July 1, 2020, Blue Spruce Inc. invested $788,900 in a mine estimated to have 805,000 tons of ore of uniform grade. During the last 6 months of 2020, 131,000 tons of ore were mined. (a1) Calculate depletion cost per unit. (Round answer to 2 decimal places, eg. 0.50.) Depletion cost per unit

On July 1, 2020, Blue Spruce Inc. invested $788,900 in a mine estimated to have 805,000 tons of ore of uniform grade. During the last 6 months of 2020, 131,000 tons of ore were mined. (a1) Calculate depletion cost per unit. (Round answer to 2 decimal places, eg. 0.50.) Depletion cost per unit

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter7: Fixed Assets, Natural Resources, And Intangible Assets

Section: Chapter Questions

Problem 4SEQ

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On July 1, 2020, Blue Spruce Inc. invested $788,900 in a mine estimated to have 805,000 tons of ore of uniform grade. During the
last 6 months of 2020, 131,000 tons of ore were mined.
(a1)
Calculate depletion cost per unit. (Round answer to 2 decimal places, e.g. 0.50.)
Depletion cost per unit $

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