North Const Petroleum holds huge reserves of oil assets. Assume that at the end of 2016, North Coast Petroleum's cost of oil reserves totaled $60,000,000,000. representing 5,000,000,000 barress of oil. Requirements 1. Which mothod does North Coast Petroleum use to compute depletion? 2. Suppose North Coast Petroleum removed and sold 900,000,000 barrels of oil during 2017. Journalize depletion expense for 2017. Requirement 1. Which method does North Coast Petroleum use to compule deplotion? is the method used to compute depletion. Requirement 2. Suppose North Coast Pelroloum removed and sold 900,000,000 barrels of ol during 2017. Journalize dopleticn oxpense for 2017. (Assuirne no