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On July 1,2020, Teal AG invested CHF700,520 in a mine estimated to have 844,000 tons of ore of uniform grade. During the last 6 months
On July 1,2020, Teal AG invested CHF700,520 in a mine estimated to have 844,000 tons of ore of uniform grade. During the last 6 months of 2020, 134,000 tons of ore were mined. Calculate depletion cost per unit. (Round answer to 2 decimal places, e.g. 0.50.) Prepare the journal entry to record depletion. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Assume that the 134,000 tons of ore were mined, but only 80,000 units were sold. How are the costs applicable to the 54,000 unsold units reported? Reported in Attempts: 0 of 3 used Using multiple attempts wil Impact your score
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