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In January 2025, Oriole Mining Corporation purchased a mineral mine for $6330000 with removable ore estimated by geological surveys at 2500000 tons. The property
In January 2025, Oriole Mining Corporation purchased a mineral mine for $6330000 with removable ore estimated by geological surveys at 2500000 tons. The property has an estimated value of $605000 after the ore has been extracted. Oriole incurred $1725000 of development costs preparing the property for the extraction of ore. During 2025, 584000 tons were removed, and 523000 tons were sold. For the year ended December 31, 2025, what amount of depletion should Oriole include in cost of goods sold? $1740320 $1197670 O $1558540 O $1337360
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