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On July 1, 2017, Concord AG invested CHF654,240 in a mine estimated to have 752,000 tons of ore of uniform grade. During the last 6
On July 1, 2017, Concord AG invested CHF654,240 in a mine estimated to have 752,000 tons of ore of uniform grade. During the last 6 months of 2017, 120,300 tons of ore were mined. Calculate depletion cost per unit. (Round answer to 2 decimal places, e.g. 0.50.) Depletion cost per unit CHEL Prepare the journal entry to record depletion. (Round answers to o decimal places, e.g. 2,125. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Assume that the 120,300 tons of ore were mined, but only 81,900 units were sold. How are the costs applicable to the 38,400 unsold units reported? Reported in
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