33. Edyta Corp. sells its merchandise at a gross profit 25%. Given the following for 2015: Sales Beginning inventory Purchases Purchase Returns: 2ok t 9ok-lok $ 100,000 20,000 80,000 10,000 15k-2k On 12/31/15 all but $2,000 of Edyta's inventory was destroyed by a flood. What was the inventory loss? What's meaning? $10,000 $23,000 $17,000 $15,000 $13,000 a. b. C. e. 36 Maghielse Company incurred the following expenses during the year ended 12/3 1/2014: $50,000 $120,000 $12,000 $15,000 $10,000 Legal work in connection with patent Depreciation on research equipment Seasonal design changes to existing products Conceptual formulation of product alternatives Engineering follow-through in an early phase of commercial production ications applic Q: A) Could you give the simple example and explaine it to every expense. b) which is expense as R & D expense, how about other expense? DA inaral mine for $3.600.000 with removable ore estimated at 1,20 hay In lanuary 2010, ABC Co. purchased a mineral mine for $3,600,000 with removable ore estimated at 1.200 000 38 tons. After it has extracted all the ore, ABC will be required by law to restore the land to its original condition at an estimated cost of $220,000. The present value of the estimated restoration costs is $T80,000. ABC believes it will be able to sell the property afterwards for $500,000. During 2010, ABC incurred $320,000 of development costs preparing the mine for production and removed and sold 80,000 tons of ore. In its 2010 income statement, what amount should ABC report as depletion? DEPLETION EXAMPLE Treehuggers Inc. purchased 20,000 acres of timberland at a timber cost of $10 per acre. Treehuggers built fire lanes and roads, with a life of 30 years, at a cost of $84.000. During 2008, Stanislaw selectively logged 10,000 and sold 7,000 board feet of timber, of the estimated 50,000 board feet. Depletion base? Depletion rate? Inventory of timber at 12/31/08? CGS of timber for 2008