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n April 1 7 , 2 0 2 4 , the Loadstone Mining Company purchased the rights to a copper mine. The purchase price plus
n April the Loadstone Mining Company purchased the rights to a copper mine. The purchase price plus additional costs ecessary to prepare the mine for extraction of the copper totaled $ The company expects to extract tons of opper during a fouryear period. During tons were extracted and sold immediately.
equired:
Calculate depletion for
Is depletion considered part of the product cost and included in the cost of inventory?
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