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On July 1, 2022, Monty Inc. invested $624,890 in a mine estimated to have 791,000 tons of ore of uniform grade. During the last 6
On July 1, 2022, Monty Inc. invested $624,890 in a mine estimated to have 791,000 tons of ore of uniform grade. During the last 6 months of 2022,125,000 tons of ore were mined. (a1) Your answer is correct. Calculate depletion cost per unit. (Round answer to 2 decimal places, e.g. 0.50.) Depletion cost per unit $ eTextbook and Media List of Accounts Attempts: 1 of 3 used (a2) Your answer is partially correct. Prepare the journal entry to record depletion. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
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