In Januaryr 2011, Rangoon Mine (:0. purchased a mineral mine for P2.640,000 w'rm removable ore estimated at 1,200,000 tons. After it has extracted all the ore, Rangoon Mine will be required by law to restore the land to its original condition at an estimated cost of P220300. The present value of die estimated restoration cosls is P180000. Rangoon Mine believes it will be able to sell the property aenrvards for P300000. During 2011, Rangoon Mine incurred P360900 of development costs preparing the mine for production and removed and sold 60,000 tons of ore. In its 2011 statement of comprehensive income. what amount should Rangoon Mine report as depletion? a. P135,000 b. P150.000 I; P141000 0. P151000 Banei Company:r included the following items under inventories