7) In 2017, Gandy Inc. paid $350,000 to for a parcel of land where it intends to extract minerals. The property holds an estimated 1,100,000 ounces of minerals. Assume the company paid $180,000 for additional geological tests of the property and $130,000 for other intangible costs to prepare for mining. During 2019, Gandy removed 995,000 ounces of minerals from the property and sold 750,000 ounces of what it removed. (20 points) Calculate: A. Total depletion for 2019 (Inventory extracted) B. COGS in 2019 C. The balance of Gandy's ending inventory for the minerals in 2019. D. The carry value of the Minerals asset for 2019, as it would appear on its balance sheet. E. Prepare the journal entry to record the asset and the journal entries to record the depletion and sales in 2019